| GROUP SHORT TERM AND LONG TERM DISABILITY |
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Disability coverage is available on a long or short term basis. A disability program provides income protection to your employees should they be unable to work as a result of an illness or accident. Typically disabilities that result from work related activities are covered by your workers compensation plan rather than a short or long term disability plan. Disability plans are typically paid for by employers or an employer provides a basic benefit of 40% or 50% and employees are given the option of increasing "buying up" their benefit level to 60% or 66 2/3% at their expense. The table below provides a brief summary of typical plan design provisions.
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Short Term Plans |
Long Term Plans |
| Group Size |
- 2 or more
- Medical underwriting is usually necessary for groups under 10 lives
- Benefits amounts available will depend on group size and total volume of coverage
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| Benefits Start After |
1, 7, 15, 30 days of disability |
60, 90, 180, 365 days of disability |
| Benefits are paid for |
13, 26, 52 weeks |
2 or 5 years, or to age 65 |
| Benefit Amounts |
Flat amounts such as $100 or $250 per week or as a % of employee pay - 50%, 60%, or 66 2/3% |
A percentage of an employees income such as 50%, 60%, 66 2/3% |
| Rate Guarantees |
1 to 2 years |
1 to 3 years |
| Plan Types |
Traditional or Voluntary |
Traditional or Voluntary |
| Plan Considerations |
Sex and occupational demographics will effect rates |
Occupation of covered employees has a significant effect on plan rates |
Contact for a quote or more information
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