Many make the mistake of believing that a disability is caused by an accident or by being reckless. This isn’t always the case.<\/p>\n
A disability can definitely be caused by an accident, sure, but it can also be caused by an illness or medical condition that the individual develops. Unfortunately, neither an employee or an employer can plan for an individual to become disabled.<\/p>\n
This is one reason that offering long-term disability insurance<\/a> to your employees is so important.<\/p>\n When an employee becomes disabled, they are likely faced with quite a bit of financial strain. This is because they are no longer able to complete their typical, day-to-day tasks at work. An employer will also face strain when an employee becomes disabled, however. For example, they will miss out on the work that the employee normally completes and may struggle to find a replacement for the employee.<\/p>\n When referring to the work environment, a long-term disability usually means that the person is no longer able to work for an extended period of time. Usually this timeframe is longer than 6 months. Many times, a long-term disability could result in the individual permanently being unable to work.<\/p>\n If you are looking for a way to help your employee prepare for a time when they may become disabled, one of the best things you can do is offer long-term disability insurance. There are several ways you can offer this benefit to your employees<\/a>.<\/p>\n Some employers choose to pay for the entire premium for their employees. However, others prefer to share the cost of the premium or require their employees to pay for the entire amount. Choosing the right option depends on the specific company and employees in question.<\/p>\n Each plan works a little differently. On average, these types of insurance plans will pay between 50 and 70% of the individual’s monthly salary. This payment will continue for an extended period of time, depending on the plan itself. Some plans cover the employee for a certain timeframe, usually between 5 and 10 years, and others pay until the person reaches the age of 65.<\/p>\nWhat is Long-Term Disability?<\/h2>\n
Preparing for Long-Term Disability<\/h2>\n
What Rules are in Place<\/h2>\n