Group Disability Insurance
Disability insurance has become an increasingly valuable part of a comprehensive employee benefits package. Not only does disability insurance fill the
gaps in financial protection offered by other programs like Social Security, it is also a highly sought-after component of a competitive benefits package
for employers who need to attract and retain talented employees. And while employees appreciate the peace of mind they receive as their income replacement
benefits are being paid, employers can use the resources offered by insurers to manage time and productivity losses and find the most effective ways to
return employees to work.
Why do employees ultimately come to work every day? Their paycheck is the basic answer. Protecting your employee’s ability to maintain income in the event
of an illness or off the job injury can be some of the most valuable insurance coverage you can obtain. Studies show that working-age adults are more
likely to suffer from a lengthy disability in a given year than they are to die. Unless it is offered through their employer, most adults have little, if
any, disability insurance coverage.
Employers should consider these statistics when evaluating the need for disability protection for their employees:
Disabilities affect 19 percent of Americans (approximately 54 million people).
On average, about 3,000 disabling injuries occur every hour during the year.
A disabling injury occurs every eight seconds at work.
Thirty percent of employees age 35 to 65 will become disabled for 90 days at least one time while working.
By age 35, there is a 50 percent chance of becoming disabled for three or more months. The Social Security Administration claims that there will be a
37 percent increase in disability insurance incidences because the workforce is getting older.
The specialists at Atlantic/Smith, Cropper & Deeley can help you determine if group disability insurance is the right choice for your organization.
Contact us today.