Short & Long Term Disability

Short Term Disability:
Injuries, normal pregnancy, psychiatric/substance abuse, respiratory problems are but a few of the reasons your employees will need short-term disability coverage. STD coverage provides income replacement (typically 60% of weekly earnings) to employees for accident or illness for a period of 13 or 26 weeks after a short elimination period. The emphasis is income replacement with a strong return-to- work focus, thereby limiting financial hardship to the employee and the employer.

Long Term Disability:
Disabilities can have a dramatic impact on a company’s bottom line. The cost of premium is obvious, but the loss of key employees can lead to other costs such as: replacement, retraining, overtime, lost business, and many other hidden or “soft costs”. Returning employees to work is critical to the employee and the company. The likelihood of becoming disabled is real: one of every five workers will be disabled for five or more years. Long-term disability will cover your employees for disabilities that last more than 6 months and typically will pay 66 2/3 of employee salary to age 65. Given the fact that the average employee has less than 3 months of financial reserves, a long-term disability can devastate a family financially and emotionally. Protect your employees from the potential financial ruin by sponsoring an LTD plan for your employees.

Integrated Disability:
To effectively manage disability costs, employers must understand the relationship between short and long-term disabilities and how they drive overall disability costs. Viewing short and long-term disabilities as separate incidents can lead to higher overall disability costs and lessen the employer's ability to return the employee to work. Integrated disability manages the disability in the short and long run, with the common goal of returning the employee to work when appropriate. Integrated disability can help employers track STD and LTD costs, pinpointing causes and trends, which can help reduce total disability costs.