Protect your employees’ income with disability insurance. Group disability insurance protects their most valuable asset, the ability to earn an income, even if they’re too sick or hurt to work.
You can offer either short-term or long-term disability insurance. We offer both so you can choose a policy that meets your employees’ needs and your bottom line.
Who pays the insurance premium?
This depends on the companies budget. The company can choose to pay for all, part, or none of the premium depending on the insurance company. Employees can pick up the entire cost of the premium with voluntary short-term or long-term disability insurance.
What is short-term disability insurance?
If an employee becomes temporarily disabled and can’t work for some amount of time, this benefit will replace a portion of their income. Some examples of qualifying circumstances may include the birth of a child, prolonged sickness, or recovery after surgery. Short-term disability benefits are usually paid weekly, and employees can receive benefits for less than 26 weeks.
What is long-term disability insurance?
Generally, long-term disability benefits begin after short-term disability benefits end. Some examples of qualifying circumstances may include cancer, accidental injuries, and mental health conditions. Long-term disability benefits are usually paid out monthly. The amount of time a person can receive these benefits varies. Still, usually, coverage is given until the employee returns to work, receives benefits for a certain number of years (example: up to 5 years), or reaches age 65.
Choose from a range of features to customize the coverage that’s right for you and your employees. Flexible options include benefit percentages, maximum benefits, elimination periods, benefit payment periods, and more. Call today to speak with a licensed broker.
Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.
