Often overlooked, short term disability (STD) and long term disability (LTD) insurance can be the most important benefit you offer to your employees. Short term disability insurance covers a portion of an employee’s salary for a certain period of time, while long term disability insurance kicks in after that for enduring conditions that keep employees out of work for longer.
The Council for Disability Awareness states that just over 1 in 4 current 20 year olds will be disabled in their lifetime. While nobody expects a disabling condition to befall them, being prepared can make all the difference. In the event of a disabling illness or injury, short and long term disability insurance covers a percentage of an employee’s salary, ensuring that they can pay bills and take care of their family. This type of benefit helps employers look out for their talented employees and encourages loyalty and job satisfaction among employees.
Short and long term disability payments replace your employees’ income when they need it most. Group disability plans can be very affordable and protect your employees’ financial future when they are unable to work. William J. King & Associates has over 40 years of experience helping clients find the best disability insurance companies at the most affordable rates. We’re here to answer any questions and help you understand he best options for your business.