page loader

Disability Insurance

Disability insurance is one of the many types of coverage that one may receive from an employer. The coverage is to help employees survive when they fall victim to a disabling condition, incident or accident. A new employer may provide such benefits immediately upon the hire of a new person, or the employer may make the employee wait a certain number of months before he or she is eligible to reap the benefits. Usually, benefits begin in the first three months of employment.

Disability is for workers, and it covers a broad range of conditions. Ailments that come from accidents such as broken legs and back injuries qualify for coverage. Health problems like diabetes and cancer apply. Some policies cover conditions that some professionals refer to as mental health issues, as well.

Disability policies usually pay out a percentage of the employee’s regular pay after the company approves the claim. The amount of the claim that the insurance company pays varies between providers. Some providers may offer 60 percent, and some may offer more. Some providers insure employees for up to 100 percent of their pay for a limited time after the disability begins. The employee can clarify that information with the benefits department on his or her job.

The two major types of disability insurance for workers is long-term and short-term. Short-term is usually the coverage that comes in the new employee package. It covers the person for six months to a year. Anything beyond that point is a long-term issue, and the employee should have long-term coverage to compensate for it.

Many benefits exist for having a reliable disability policy. The main benefit is a peace of mind. Workers can perform their jobs every day with the confidence that they have coverage should anything happen to them. Such people don’t have to worry themselves about how they will manage to pay the bills if something unexpected occurs. They’ll have extra coverage for their families. Taking advantage of a work-provided insurance policy is a smart idea because of the cost factor, as well. Workers can save a lot of money because their employers pay part of the premium.