Disability Income Coverage

Most employees generally recognize the need for life insurance and have a life insurance policy of some type. However, the risk of sustaining an injury resulting in a lengthy disability is much greater that death. Many employees don’t recognize the need for disability insurance even though a lengthy disability could be financially devastating.

There are two different types of disability insurance, for short-term disability and long-term disability.

Short-Term Disability (STD) provides a paycheck to replace lost income as a result of a disability. STD policies are designed to provide supplemental payments for a few weeks or months. Different policies have different waiting periods before an individual can start collecting money after a disability occurs.

Long-Term Disability (LTD) provides insurance coverage for disabilities that last many years or a lifetime. The waiting time for LTD policies is lengthier than for STD policies, but LTD insurance generally offers greater compensation over a longer period of time. This type of coverage is designed to protect against huge losses from which you can not easily recover.

Call Premier One today and speak with one of our benefits specialist about a disability program for your business.