Research shows one-fourth of today’s workers will suffer an absence from work because of disability sometime during their career. Even a short interruption in income can wreak havoc on finances. Fortunately, group disability coverages can make the difference between financial stability and financial hardship.

Group Disability Plans

Short-term disability group coverages replace a percentage of employees’ work income for a specific period of time, often three to six months or even up to a year. Long-term disability group coverages, if needed, often kick in when short-term coverages end.

Group policies are more affordable than individual policies and have fewer restrictions because the risk is spread across a number of individuals. Group disability policies protect both employees and employers from uncertainty about how salaries will be paid when employees are injured or ill.

Advantages of Short-Term Disability Group Plans

Employees rely on steady work income to cover ongoing living expenses. When a temporary disability imposes even a brief interruption in income, short-term disability coverage can provide continuity and peace of mind for both employees and employers.

Depending on the policy, short-term disability plans also can include benefits for:

• Employees suffering from a disability who still are able to work part-time
• Employees on maternity leave

Employers who provide attractive benefits excel at hiring and retaining the most talented employees. Group disability coverages are a cost-effective benefit for both employers and employees.