The policy will also cover the costs of the key employee's death, such as benefits due to the employee's surviving spouse or family. Your financial advisor can help you with this. An employee who is unable to work due to sickness or disability can be a major cause of concern. When they are well enough, they can return to work. In the meantime, you are free to hire a temporary employee.
Disability insurance can also be useful in other ways.
You can purchase disability insurance for yourself to protect your own income, and you can purchase it for key employees to protect against the loss of those employees. Tuition Today, the rising cost of higher education prevents many employees from furthering their education. For this reason, some employers offer their employees the opportunity to continue their education by providing educational assistance. Employer-sponsored educational assistance can help you improve your employees' skills by enabling them to take classes that they otherwise may not have been able to afford. Other Other benefits that you may offer your employees could help increase morale, increase productivity, and reduce your actual cost of doing business.