Disability Insurance -Insurance for the Injured and the Sick
TABLE OF CONTENTS      Disability InsuranceInsurance for the Injured and the              Sick                   3  Differ...
Disability Insurance       Insurance for the Injured and the Sick       Accidents happen at any giventime. Injury due to a...
With a specificshort term disability insuranceplan tailored to your needs, you canreceive a certain percentage of yourinco...
an injury. There is a maximum amountof money you are allowed to receivefrom this insurance plan, and there isalso a maximu...
savings or checking account to pay forexpenses during the time you are notworking and earning your full salary.Also, it al...
to receive benefits, employers might re-quire you to use all of your accumulatedsick days and any other time off thatyou m...
to receive benefits.      If you choose notto go through your employer, you mayapply as an individual. If you are self-emp...
benefits you may be eligible to receiveeven though you are not physically ableto go to work.
Disability Insurance       Different Styles of Disability Insurance       Disability insurance is animportant form of insu...
employees but also yourself if some-thing should happen.     Key Person Insurance is useful toemployers when the person wh...
charge of maintaining day to day opera-tions on the floor.      This sort of insurance will allowfor the training of a new...
functions of the company withoutadded risk.     Business     Overhead     ExpenseInsurance for protecting the employer.If ...
Keeping this type of insurancepolicy is a great idea for any sizedcompany, as it ensures operationscontinue to run smoothl...
Employer-Supplied Insurance iswhen the employer pays a part of themoney into the workers disability fund.Most commonly thi...
loyal environment. In this day and age,employees are apt to stick by anemployer who shows their willingnessto care for emp...
to worry about spending too muchmoney and not having the propercoverage when it comes time to use it.
benefits you may be eligible to receive eventhough you are not physically able to go towork.
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Disability Insurance - Insurance for the Injured and the Sick

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With a specific short term disability insurance plan tailored to your needs, you can receive a certain percentage of your income while you are unable to work. This amount is typically between 45 to 60 percent of your base salary.

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Disability Insurance - Insurance for the Injured and the Sick

  1. 1. Disability Insurance -Insurance for the Injured and the Sick
  2. 2. TABLE OF CONTENTS Disability InsuranceInsurance for the Injured and the Sick 3 Different Styles of Disability Insurance 10
  3. 3. Disability Insurance Insurance for the Injured and the Sick Accidents happen at any giventime. Injury due to an accident often re-sults in costly emergency room bills andhospital stays. Some people become in-jured and temporarily disabled. Thus,they are unable to work for a certainperiod of time. More often than not,employers offer disability insurancebenefits for full-time employees to helpcover the costs of those unexpected andhighly expensive medical bills. Withoutthis insurance, out-of-pocket costs foremergency room visits can bealarmingly high.
  4. 4. With a specificshort term disability insuranceplan tailored to your needs, you canreceive a certain percentage of yourincome while you are unable to work.This amount is typically between 45 to60 percent of your base salary. Thiskind of disability insurance isavailable for 3 to 6 months, and it isusually effective immediately following
  5. 5. an injury. There is a maximum amountof money you are allowed to receivefrom this insurance plan, and there isalso a maximum length of time you canbe covered. If you think that you need toreceive benefits past six months, findout from your employer what is avail-able for a longer period of time. In the event that you becomeinjured, applying for short termdisability insurance would bebeneficial. Although it is only a partialamount of your earned income, it isbetter than exhausting funds from a
  6. 6. savings or checking account to pay forexpenses during the time you are notworking and earning your full salary.Also, it allows you to still receive somemoney while you are temporarily out ofwork. If you are unable to work for acertain amount of time due to illness,you are also eligible to apply for shortterm disability insurance. Unlike beinginjured, however, if you are sick, theremay be a waiting period between thetime you apply and the time the benefitsare in effect. Also, before you can begin
  7. 7. to receive benefits, employers might re-quire you to use all of your accumulatedsick days and any other time off thatyou might have earned. Before apply-ing, speak to a representative from yourhuman resources office to find out ex-actly what is required by your employer.This could help you avoid any issuesthat could prolong the process and de-lay the start date of which you can begin
  8. 8. to receive benefits. If you choose notto go through your employer, you mayapply as an individual. If you are self-employed, you are also eligible to applyfor short term disability insurance. Byapplying for this insurance, you cancontinue to earn money while in recov-ery from an injury or sickness. In the event that either occurs,the last thing you should have to stressover is your job and how being out ofwork will affect yourself or your familyfinancially. It is beneficial to beknowledgeable in the kinds of insurance
  9. 9. benefits you may be eligible to receiveeven though you are not physically ableto go to work.
  10. 10. Disability Insurance Different Styles of Disability Insurance Disability insurance is animportant form of insurance, not onlyto employees but also to employers. Ifan employee is out of work on disability,other problems such as finding areplacement or finding ways to continueproductivity can occur. For this reason,employers will want to research thedifferent types of insurance that theyare able to purchase. Depending on the size of thecompany, you may want to considerdifferent types of insurance whichwill be able to cover not only your
  11. 11. employees but also yourself if some-thing should happen. Key Person Insurance is useful toemployers when the person who getsput on disability is one of the mostimportant people in the company. Anexample of this is the person who is in
  12. 12. charge of maintaining day to day opera-tions on the floor. This sort of insurance will allowfor the training of a new employee toreplace the one who was put ondisability. If the disabled employee isscheduled to come back after a proce-dure or rehab, you can put the newemployee on short term disabilityinsurance in order to continue withproper employee insurance coveragewhile they fill this temporary position.Taking this step will ensure that anemployer is able to continue their daily
  13. 13. functions of the company withoutadded risk. Business Overhead ExpenseInsurance for protecting the employer.If the employer should become disabledand unable to work, this insurance willhelp pick up some of the businessexpenses he or she may have during thistime. This includes rent, utilities, andeven employee salaries during theperiod in which the employer may beout of work. This is to make sure thatthe company continues to produce eventhough the employer is unable to work.
  14. 14. Keeping this type of insurancepolicy is a great idea for any sizedcompany, as it ensures operationscontinue to run smoothly. In the instance where an employeris unable to handle day to day tasks, thistype of coverage may play a large role inkeeping the company afloat.
  15. 15. Employer-Supplied Insurance iswhen the employer pays a part of themoney into the workers disability fund.Most commonly this is known asWorkers Compensation which is paidout to the employee who was workingand got injured on the job. However,most people end up getting hurt off thejob, in which case workers comp willnot cover the disability. This form ofdisability insurance will help youremployees when they are unable tophysically work. Offering adequateinsurance to employees also fosters a
  16. 16. loyal environment. In this day and age,employees are apt to stick by anemployer who shows their willingnessto care for employees in a time of need. So no matter what form ofinsurance, even short term disabilityinsurance, you can be assured thatyour employees will be taken care of.You can even make sure your companyis insured if you are unable to work.After all, a company does not stop justbecause of an injury or illness. Bygetting the right type of insurance foryour company, you will not have to
  17. 17. to worry about spending too muchmoney and not having the propercoverage when it comes time to use it.
  18. 18. benefits you may be eligible to receive eventhough you are not physically able to go towork.

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