Injuries happen, and severe injuries can prevent a person from working and earning income. When someone has to take time off of work to recover from an injury, they are able to acquire either short- or long-term disability insurance. A disability is defined as any medical condition that takes an employee out of work for an extended period of time. These insurance policies, disability & long-term care coverage, help to replace income while out of work, protecting from loss of income.
At Business Benefits Group (BBG), we strive to provide individuals with insurance policies that can protect them from any situation. We provide disability insurance for short- and long-term periods. We provide our clients with the protection and stability they require in these difficult situations. Don’t leave yourself or your family up to chance, protect yourselves with short- or long-term disability insurance.
Short-term disability insurance (STDI) is a policy that provides protection to a policyholder by replacing their usual income while they’re unable to work. The time period that most STDI policies cover is three to six months. During this time, around 80% of the gross income is covered by the policy. Depending on how much coverage you need and the timeline of one’s disability, investing in a long term disability insurance plan can be beneficial as well. By having this policy in place, a shield of protection is put into place even before employee benefit coverage jumps into action. The individually owned policy allows for it to be portable, moving with you from job to job and never leaving you without stability.
Similar to STDI, long-term disability insurance (LTDI) helps to cover lost income due to a work-preventing disability. The average long-term disability absence is 34.6 months, leaving people vulnerable without a source of consistent income. LTDI policies can cover 50-70% of lost wages. Since this policy is different from workers compensation, it is not for injuries or illnesses acquired on the job. A LTDI policy works best in tandem with a STDI policy. The short-term policy is able to provide immediate coverage for the policyholder, while the long-term option jumps into play after that has expired. These long-term policies are engaged around week 26 after the short-term policy has run out.
Get Coverage Today
Anyone can suffer from an injury or medical condition. Medical conditions can leave you unable to work and vulnerable. BBG offers both STDI and LTDI to help provide coverage for clients going a time without their usual income. These policies can protect the holders by covering a portion of their income, and allowing them to stay afloat while they aren’t able to work. Don’t leave your income or your stability up to chance, acquire short- or long-term disability insurance coverage to give yourself a safety net in the chance of disaster.
Living without an income can prove to be a difficult task to handle. Around 46% of Americans today wouldn’t be able to face an unanticipated $400 medical expense without resorting to credit or a loan from family members. Remain stable by planning ahead and covering yourself with a sensible insurance policy. If you would like more information on disability & long-term care coverage, call BBG today at 844.201.3612 or send us a message online.