Frequently Asked Questions
|ABOUT GROUP DISABILITY INSURANCE|
|Doesn't workers compensation cover all the expenses associated with being out of work due to illness or injury?||
This is a common misconception. Workers compensation only covers incidents that happen while the employee is at work. But often a disabling injury or illness happens off-the-job, making the employee ineligible for these types of benefits. Most short-term disability polices only cover off-the-job incidents; however, long-term disability can help provide benefit protection 24 hours a day.
|Will social security provide financial assistance?||Yes and no. Social Security only covers long-term disabilities and offers just a fraction of what most families need to maintain their current standard of living. Plus, the application process can be tedious and many first-time filers find their claims are denied.|
|What plan should I offer?||Generally, companies pair short- and long-term benefits to maximize coverage and give employees time to fully recover.|
|Who pays the premium?||Many carriers offer employer-sponsored and supplemental/voluntary options. An employer-sponsored plan requires employers to pay some, if not all, of the cost of benefits. Supplemental and voluntary plans are paid 100% by employees.|
|What's the difference between a voluntary group plan and an individual disability policy?||
It’s easier for employees to access benefits with a voluntary group plan. And benefits are likely at a better rate since coverage is offered to an entire group.