Group disability insurance is provided in a single policy that covers an entire company or group. It can be a valuable part of an employee benefits package that serves to protect your company’s most valuable asset – your employees. An agent at HIS Financial Life in Arlington, Texas, can work with you to structure a group disability program to suit the needs of your company or group.
Disability insurance is private insurance designed to replace a portion of an employee’s income in the event of a disabling illness or injury. Employers can choose from a range of insurance options. The basic types of group disability insurance are short-term and long-term.
The cost of group dental insurance can vary widely based upon the number of employees, the location of the business, and the form of coverage you choose. Employers can lower their costs by contributing a specific percentage of plan premiums and allowing employees to opt-in or out of the plan. Our agents at HIS Financial Life are well-versed in employee benefits, including group dental insurance. Work with us to find the right fit in a group dental plan for your company.
Long-term disability (LTD) replaces a portion of a disabled employee’s income after the employee has used up both sick leave and short-term disability benefits. The duration of the payouts varies depending on the plan. Some LTD policies will payout for a certain number of years (such as 2 to 5) or until the disabled employee reaches a certain age (such as 65).
The cost to employers for group disability insurance typically ranges between 0.25% and 0.5% of total compensation, whether there are two employees or 2,000. This makes it a good investment for small business owners from an employee recruitment and retention standpoint. Various factors may affect the cost of disability insurance. Our agent at HIS Financial Life can help you find the coverage you need at the lowest available rates.
