Long Term Disability
Long term disability insurance covers you if you were to experience a debilitating injury or illness that resulted in your being disabled and out of work for an extended duration of time. It kicks in after short term disability. You’d receive a monthly amount of money that replaces a portion of your income, helping you in a time of great need. This benefit is more commonly offered than its short term counterpart, mostly because of its severity.
At the same time, it’s a product that is easily overlooked. Employees fail to realize just how high the chances are that they will become disabled. Statistics show that one in five employees become disabled in their careers. You don’t have to do physically taxing or dangerous work to get hurt on the job. Likewise, injuries can just as easily happen outside of work. It’s simple: anyone with a job is at risk, because just about anyone is susceptible to his/her health or physical condition interfering with the ability to earn a living at some point or another. The difference is whether or not you’ll have the coverage to protect and sustain you during this difficult time.
At Employee Benefits Agency, we can help you understand these and other voluntary employee benefits packages related to long term disability and figure out what plan is appropriate for you. You may already have a group policy that includes long term disability. Even so, too often a group policy’s coverage isn’t enough for the employee to make do, so you’ll still want to look at the details. A supplemental policy could be just the thing for you.