Group Disability Insurance
In competitive industries or a tight labor market, you need a robust benefits package to attract and keep top employees. Disability insurance is attractive to employees because it helps protects them financially if they become unable to work.Two Types of Group Disability Insurance Plans
There are two types of group disability policies: Short Term and Long Term.
Short Term Group Disability Insurance
Short Term Disability is designed to help cover part of an employee’s income for a specified, short period of time. Here are some of the most common reasons that workers claim Short Term Disability benefits:
- Parental Leave
- Medical Rehabilitation
- Surgery Recovery
The amount of benefit under Short Term Disability can vary depending on the plan design you choose. Short Term Disability benefits usually lasts from three to six months.
Long Term Group Disability Insurance
Long Term Disability (LTD) pays benefits for a much longer time. If an employee is unable to work for a long period, LTD can replace some of their income. Here are some of the reasons an employee would use their LTD benefits:
- Serious Illness
- Musculoskeletal Issues
- Mental Illness
- Other Disabilities
LTD benefits depend on the plan design. Payments can last for several years, or up to age 65 for qualifying individuals.
Why Towne for Group Disability Insurance Coverage?
As a leading independent insurance agency, Towne has strong relationships with many of the nation’s top insurance carriers. So we can provide the right group disability coverage at the most competitive rates.
Towne is able to offer a wide variety of insurance policies without the restrictions of a single insurer. We represent you to the insurance marketplace and will always look out for your best interests.
Towne Insurance and Towne Benefits are part of a culture defined by caring for the people and communities we serve.
Your Group Disability Insurance Benefits Experts
Towne’s knowledgeable Benefits Consultants have helped many business owners find the best group disability policies for their needs.
Contact our Towne Benefits Team today to learn more about our services and products, or receive a complimentary quote!