Disability Insurance

One of your employees' major concerns or worries is "What will happen if I am not able to work?  Who will pay the bills and provide for may family?"  Offering disability insurance is one way of providing peace of mind for your employees.

SHORT TERM DISABILITY -

• Waiting period is usually 1st day accident, 8th day of sickness.
• 13 or 26 weeks of coverage.

LONG TERM DISABILITY -

• Waiting period generally coordinates with short term disability.
• Percentage of replacement: 60% of pre-tax income is common with a maximum monthly set.  $3,000 to $10,000 is normal.
• Offsets:  almost all LTD plans have an offset provision with social insurance.
• Definition of disability:  depends on the occupation of the group insurance.
• Either partial or residual benefits are normally available.
• Employer-paid plans are taxable to the employee.  Employee paid plans are not.

Short and long term disability programs are available and Mid-State had the ability to explain and provide the type of coverage you need.