I have seen businesses forced to close and families dependent on the charity of others because these were not part of the plan. Short-term is offered on a group basis and can be paid by the employer or employee or shared by both. This can provide 60 percent of earnings on a tax-free basis. Given our current income tax burden, this will provide close to the covered person's pre-accident earnings. It can start the first day for an accident and after eight days for a sickness.
Many employees live from paycheck to paycheck.
An auto accident or sudden illness can cause an employee to lose their car, home and credit. Long-term disability policies start paying after three to six months and can pay up to age 65. Disabilities do not discriminate by age. A stroke, a serious back injury or other disabling condition can strike any of us at any time. Your company can provide this coverage for key employees.