3 Things Employees Don’t Know About Their Disability Benefits

Protecting one’s ability to earn an income remains among the most important financial planning goals for many individuals.

Without income, many financial strategies can simply derail.

Yet, many employees with employer paid LTD plans could be under-insured in the event they became too sick or injured to work.
A new study released by The American College, Employer Perspectives on Disability Benefits, conducted by the Boston Research Group, shows:
  • Most group Disability Income benefits are taxable.  Employees may receive a benefit that is only half their paycheck amount.
  • Few group Disability plans protect variable compensation.  For employees who depend upon overtime pay, commissions and bonuses, the post – disability reality could mean not having enough income to meet their expenses.
  • High earners are maxed out.  The maximum benefit amount in group plans limit benefits for highly compensated Executives and Business Owners.
For more information or sales ideas about Disability Income Insurance, contact your Disability Income Insurance Manager today.