Employees depend on their income to pay for their housing, food, clothing, and their children's education and all the necessities of life. For most employees, a disability means not only experiencing difficulty meeting these financial obligations but also increased out-of-pocket costs. Now more than ever, employees need the added protection of disability insurance, to help protect their paycheck/income and provide piece of mind.
When asked what is your most valuable asset, often people respond; my house, my car, or my family. They would be right. However, what they are trying to say is that all of those are important to them. People rarely think about the importance of their ability to earn an income. What would happen to their mortgage payment if they became ill and could not work? How would they pay for groceries? How would they buy gas? Disability insurance protects people's most valuable assets by insurance people's ability to work and earn an income.
People have different insurance needs and disability is one kind of coverage where we have identified that people often need more consultation. People wonder what percentage of their income is covered. They sometimes wonder if they can be covered if they are a 1099 contractor or if they make commission or bonuses. They wonder if their industry is appropriate to have disability income insurance. They wonder if they should buy short-term disability or long-term disability or both. We at Essential Benefit Administrators will work with you and each of your employees to answer their questions and guide them towards the right benefit packages for them. We work with all disability carriers and have negotiated discounted rates.