Group Disability Insurance applies to all businesses and is an essential consideration for companies looking to provide comprehensive benefits to their employees. In addition, while generally not required by law, a handful of states have state-mandated temporary disability benefits requirements for employers, including California, Hawaii, New Jersey, New York, and Rhode Island.
According to the 1985 Commissioners Individual Disability Table A, 50 percent of Americans will become disabled for 90 days or more between the ages of 35 and 65. Some of your employees may deal with a temporary or permanent disability during their careers. As a business owner, you should consider offering disability coverage when something like this occurs to minimize your employees' financial risk.
From the perspective of your employees, you need to offer Group Disability Insurance to protect them from the risk of losing financial stability in the event of an accident, injury, or illness. Not only does Group Disability Insurance protect your employees, but it also helps your business in attracting and retaining talent at your organization. These days, employees are becoming more and more aware of the kinds of benefits that employers are offering. Therefore, to be a competitive player for talent, you should consider offering Group Disability Insurance as a part of an attractive benefits package.
We know everyone has a different way of approaching disability insurance, which is why we offer personalized consultations! We have an extensive knowledge base and are happy to share it with you.
Reach out for the help your employees need from our Professionals. Our consultants will review all insurance options available so they can find one that best suits their needs.