Long Term Disability

Like short term disability, long term disability insurance provides an income benefit for employees who find themselves unable to work due to an accident or sickness. The prospect of facing a prolonged disability is one of the greatest concerns among employees. For most of us, our income is our single greatest asset; It provides the means to pay for housing, food, utilities, education, healthcare and retirement. Coupled with the fact that most families could only withstand the loss of income for a short period of time, a long term disability could be financially devastating.

Elimination periods on long term policies typically run from 3 to 6 months with benefit durations lasting anywhere from 5 years to age 65 or the employee’s normal retirement age for social security. Most plans include cost of living adjustments, survivor benefits and rehabilitation incentives for those attempting to return to work. Based on the well documented need for long term disability and its relatively low cost, we believe now more than ever that employers should seriously consider including a long term disability benefit in their employee benefit program.