Short-Term & Long-Term Disability Insurance
Disability Insurance is a private insurance plan that is paid directly to the insured should they become ill or injured and unable to work. These policies are designed to ease financial stresses of rents or mortgages, household expenses and personal needs during a time when the wage-earner or household member is battling an illness or injury.
Aflac is one of the most popular and well known optional benefits offered by businesses to employees. The fact that the benefit is designed to put payments quickly into the hands of beneficiaries who can use the funds for routine bill paying provides a financial security net for many people who may have an extended period away from work after an illness, surgery or accident.
Professional Benefit Solutions will work with your staff to help them apply for and receive their long-term or short-term disability benefits as needs arise.
Comparing Disability Benefits
Long Term Disability (LTD)
When sick leave has run out and your Short-Term disability has run out, a Long-Term Disability policy will continue a portion of your normal salary rate for a longer time. Policies vary in terms of how long they continue to pay, but it is frequently between 2 – 5 years or until the insured reaches a specific age, often 65, and qualifies for retirement.
Short Term Disability (STD)
Short-Term Disability policies are designed to pay the insured directly to help pay routine bills, such as rent or mortgages and other household expenses during a period of illness or injury after sick leave benefits run out. While policies differ on the amount of time they will cover, it is common to find Short-Term Disability policies that cover between 9 – 52 weeks of disability.
Other Business Insurance Policies
Long Term Care
What once an overlooked employee benefit has come to be one of the most important in keeping families financially secure and assets protected. Nearly 70% of the population will require nursing home, skilled care or home health care at some point. Purchasing a plan while an employee is still young and healthy is a good investment in their future financial stability.
Professional Benefit Solutions will facilitate the management of your 125 Plan, assuring that your employees' deductions are managed and that the processing of their qualified reimbursements go smoothly. This seamless management allows your employees to utilize this benefit without adding a management responsibility to your Human Resources staff.
Offering Group Life Insurance through your business is a cost effective way for employees and their dependents to gain a sense of security if tragedy strikes. As a benefit, Life Insurance becomes a dynamic recruitment and retention tool. We'll help you determine what to offer and help your employees choose the right policy for their circumstances.
“A few years ago, my husband complained of feeling bad. He had a little cough. And so began a journey that took us to the edge of financial crisis and an insecurity we had never known.
We did everything right. Our home was our only debt. Bills were caught up. We had jobs. My husband’s work provided our family of four with health insurance. We were lucky.
Except we didn’t count on him being unable to work for so long. That cough – it was a pneumonia. They call that diagnosis the “widow-maker” for a reason.
It was weeks of doctor visits, tests and emergency room trips. Day by day he used his sick time, his paid vacation time and even the donations of co-workers who tried to help. And so, on a morning after a doctor decided to try yet another drug, a call came from his work’s HR. IF he did not return to work the next day, our family would lose our health insurance. He was out of days and we were out of time and he was desperately ill.
We had life insurance to protect the family if one of us died. We had health insurance to keep us from bankruptcy if we were sick. We had long term care insurance if we ended up in nursing homes. BUT we didn’t have insurance for the most likely of all – one of us was so sick, we could not show up to work after an extended absence due to illness.
Professional Benefit Solutions is here to help you protect your family with insurance that will help pay bills when you can’t work. That money comes straight to you – the day after you apply for it – so you can keep the mortgage paid, the electricity on and pay medical bills – including your health insurance cobra costs!“
– Deb, 2010
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