Types Of Group Disability Insurance
In today’s competitive job market, including disability insurance in your employee benefits package can help you to attract and retain high-quality employees. It’s a particularly good investment if your employees carry out high-risk or dangerous work. Our policies fall under one of two categories depending on the length of time their coverage is available.
Short-Term Disability Insurance
If one of your employees is suddenly unable to work due to an unexpected disability or illness, the loss of income could be financially devastating. Short-term disability insurance enables them to receive some or all of their lost wages while they are disabled.
Although the specifics of each policy vary, disabled employees can typically receive replacement income for three to six months following a one-to-two-week elimination period.
Employers can choose to pay some or all of the cost of this coverage, or they can make the benefit voluntary in order to shift the cost to the employees who choose to obtain this type of coverage.
Long-Term Disability Insurance
Burton & Company offers long-term disability insurance to businesses of all sizes. Our long-term plans can replace lost income for employees who are disabled or ill for an extended period of time. Without this type of coverage, employees could lose their ability to provide for their families if a tragedy occurs.
With our long-term disability insurance policies, the employee will receive a portion of their lost wages. The precise percentage varies, but it is usually more than 50 percent and could be paid for up to three years. In some cases, long-term disability benefits may be available for even longer.
The Benefits Of Our Group Disability Plans
Group disability plans empower your company to help disabled employees financially as they face long-term recovery. Many times, these policies will include rehabilitation incentives that can help employees heal and return to work sooner.
Custom Plans
We’ll work with you to design a plan that works for your employees and your budget.
Premium Payment Options
You can choose whether premiums will be paid by the employer, employee, or a combination using either pre-tax or after-tax dollars.
Lower Premiums
Our group disability insurance rates tend to be lower than individual disability insurance rates.
Tax-Deductible Premiums
You can typically use the pre-tax premiums your company pays as a business tax deduction.
Get In Touch With Burton & Company
Show your employees how much you value their contribution by offering disability coverage that can help them provide for their families if a tragedy occurs. Get in touch with Burton & Company by phone at (888) 652-1325 or request a quote online to discuss how we can tailor a plan to suit your business’s needs today.
