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Group Disability Insurance

Protecting Your Employees' Income

What is Group Disability Insurance?

Group disability insurance provides financial protection for employees who are unable to work due to illness or injury. This essential employee benefit helps to replace a portion of their income during a time of unexpected absence.

Types of Group Disability Insurance

There are two primary types of group disability insurance:

Short-Term Disability Insurance: Provides income replacement for a limited period, typically ranging from three to six months.
Long-Term Disability Insurance: Offers income replacement for a longer duration, often up to two years or until retirement age.

Benefits of Group Disability Insurance

Employee satisfaction: Demonstrates employer care and support for employees.
Reduced financial hardship: Provides income replacement for employees during a difficult time.
Increased employee retention: Attractive benefits can help retain valuable employees.
Productivity: Helps maintain business continuity by minimizing disruptions caused by employee absences.

Key Features of Group Disability Insurance

Benefit amount: Determines the percentage of an employee's income replaced.
Elimination period: The waiting period before benefits begin.
Benefit duration: The length of time benefits are paid.
Definition of disability: Outlines the criteria for qualifying for benefits.

Choosing the Right Group Disability Insurance Plan

Selecting the appropriate group disability insurance plan involves considering factors such as:

Employee demographics: The age and health of your workforce.
Company size: The number of employees and their average salaries.
Budget: The amount your company can allocate for disability insurance premiums.
Employee needs: The level of income replacement desired by employees.