Disability Awareness Month-
Is Your Most Important Asset Protected?
Think about it. What would happen if suddenly, due to an illness or injury, you were unable to work?
What about your employees? Without their income, how long would they be able to make their mortgage or rent payment, buy groceries or pay credit card bills without feeling the pinch? Half of working Americans couldn't make it a month before financial difficulties would set in, and almost one in four would have problems immediately, according to a Life Happens survey.¹
That's where disability insurance comes in. Think of it as insurance for your paycheck. It ensures that if you are unable to work because of illness or injury, you will continue to receive an income and make ends meet until you're able to return to work. You don't hesitate to insure your home, car and other valuable possessions, so why wouldn't you also protect what pays for all those things-your paycheck.
An employer can provide short-term and/or long-term disability coverage to their eligible employees for less than what it would cost a few employees to purchase individual plans for themselves. One of the best features of employer-provided coverage is that there is no underwriting, enabling employees to automatically qualify for coverage. Even if made available on a voluntary basis, there are several advantages to buying disability insurance this way. Voluntary plans help workers get coverage more easily than if they were to purchase an individual policy outside of the workplace. Premiums are typically paid through an automatic payroll deduction and can be as much as 10% or 20% less because of efficiencies in enrollment and billing procedures.
Contact your Benefits Done Right account manager to learn more about the different sources of disability income protection.
¹The Disability Survey conducted by Kelton Research on behalf of Life Happens, April 2012