Group Disability Insurance is applicable to all businesses and is an important consideration for companies looking to provide comprehensive benefits to their employees. While generally not required by law, there are a handful of states that do have some form of state-mandated temporary disability benefits requirements for employers, including California, Hawaii, New Jersey, New York, and Rhode Island.
According to the 1985 Commissioner’s Individual Disability Table A, 50 percent of Americans will become disabled for 90 days or more between the ages of 35 and 65. There is a good chance that some of your employees will deal with a temporary or permanent disability during the course of their careers. As a business owner, you should consider offering disability coverage for when something like this occurs in order to minimize the financial risk to your employees.
From the perspective of your employees, it is important for you 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. In order to be a competitive player for talent, you should consider offering Group Disability Insurance as a part of an attractive benefits package.
We know that everyone has a different way of approaching disability insurance, which is why we offer personalized consultations! We have an extensive knowledge base and are more than happy to share it with you.
Reach out for the help your employees need from our Professionals. Our consultants will go over all insurances options available so they can find one that best suits their needs.