Recently, more than ever, employees
are coming to rely on disability insurance as a fundamental part of
their benefits package. This type of coverage helps the injured worker
to get by during the period of time in which he or she cannot work.
Technically defined, a disability is a sickness or injury, which prevents
one from being able to perform his or her normal job functions. When
disabled, members of a good disability plan will receive from around
45% to 60% of what they were normally earning.
In addition, the benefit money can be used to ease the tax burden
on employers. This type of insurance helps to provide the necessary
safety net that a worker will need to get through disability and to
get back on his or her feet. When choosing a company plan, it is important
to remember that the most inexpensive plans might turn away prospective
employees. As a rule of thumb, the less money spent on a disability
insurance plan, the more money is wasted. That’s because good
employees are also very good consumers as well, and they will generally
not want to sign onto a plan that may compromise them in their crucial
hour of need.