Disability Insurance Helps Provide Employee Retention

Most employees don’t consider the possibility of suffering some type of disability requiring them to leave work for a period of time, but when someone working for your company does experience some kind of disability it will reduce their income for a period of time, depending on how long they need to recuperate. Any injury or illness not directly caused by their job duties will not be covered under a workers compensation policy, and employees may find it difficult to qualify for Social Security disability benefits.

As a concerned business owner, you do have the option of providing your employees with group disability insurance in Pennsylvania, which can provide your workers with extra income protection in the event of a disabling illness or injury that occurs while they are not at work or performing work-related business. You can make this coverage available as a voluntary benefit if you can’t afford to contribute to the plans; employees will benefit from group rates, which are cheaper than purchasing individual policies.

Many companies offer both short-term and long-term disability insurance that serves businesses large and small. Rates and benefits will naturally vary based on the age, duties and earnings of the individuals, so speaking to an agent with experience with disability coverage is a good course of action when considering and comparing options.

Long- and short-term disability insurance benefits

A long-term disability income benefit is provided in the event that an injury permanently prevents your employee from performing the duties of their regular job. Short-term disability benefits are for any injury that prevents your employee from performing their duties for an extended period of time, but once able to, can return to work doing their normal job duties.

Long-term disability insurance usually kicks in after short-term disability coverage ends (typically after six months). Long-term disability insurance is usually preferable, since it provides extra protection with replacement income in the event that workers who are injured can no longer work for months, or even years.

With employees constantly on the lookout for companies willing to up the stakes by providing better health plans in order to lure the best candidates to fill openings, offering a good disability insurance plan for Pennsylvania workers will likely help you maintain employee retention.

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