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Disability Insurance

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Cornerstone Agency Services, LLC/ disability insurance

Disability Insurance Provided By Our Agency

Disability insurance protects your employees in the event they are unable to work for a period of time. It’s one important part of any quality employee benefits package, and we can help you create an individualized plan that will meet all your needs.

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Recruitment & Retention
Employees & Families
Product Customization
Potentially Portable
Tax deductible premiums

Recruitment & Retention Coverage

Risk Factors

It is essential for small businesses to offer comprehensive benefit packages if they want to stay competitive with other employers within their industry.

Solution

Disability insurance can be offered to compete for top talent and contribute to employee satisfaction with these valuable workplace benefits.

Employees & Families Coverage

Risk Factors

When an employee gets disabled due to an accident or a disease, they may keep thinking about the medical expenses and lose their peace of mind.

Solution

This is offered to replace some or all of employees’ income during times of disability to keep them focused on recovery and returning to work.

Product Customization Coverage

Risk Factors

Every employee has their own needs and requirements. Hence, it is always advisable to customize the benefits to protect every employee.

Solution

In many places, employer can design a plan that meets the needs of their business as well as their employees. Choose elimination periods, benefit durations, partial disability benefits, return to work benefits, administration services and more.

Potentially Portable Coverage

Risk Factors

The employee is always worried about the benefits while changing his job / employer.

Solution

Depending on the plan design, covered employees may be able to take their coverage with them if they leave the company.

Tax deductible premiums Coverage

Risk Factors

Businesses are always concerned about the amount of tax they are supposed to pay.

Solution

You can take pre-tax company-paid premiums as a business tax deduction.

What is Disability Insurance?

Disability insurance is, as the name suggests, insurance provided in the event that an employee is disabled and cannot work. Unlike workers’ compensation insurance — which provides benefits like partial wage replacement if employees get hurt on the clock — disability insurance provides partial wage replacement when employees become ill or disabled away from work, and can’t work.

In essence, health insurance benefits enable employees to seek needed medical care. Disability insurance replaces a portion of employee income when they can’t work because of an illness or disability.

According to the Social Security Administration, 25% of all 20-year-olds will become disabled and unable to work sometime before reaching the age of 67. But unlike with medical, dental, and vision insurance, very few people know that there are insurance products designed to replace a portion of their income when they become ill or disabled and cannot work.

What does Disability Insurance usually cover?

Group Disability Insurance provides a percentage of pre-disability income if an employee is unable to work due to illness or injury for a specified period of time. The percentage of income that is covered can range, but typically employers purchase plans that cover 50 to 60 percent of income. A common misconception of Group Disability Insurance is that it can cover medical costs. This is untrue, as Group Disability Insurance only provides income or wage replacement benefits.

Group Disability Insurance plans also often take into account disability payments or benefits that an employee may receive from other sources, like Social Security Disability Insurance (SSDI) or workers’ compensation. Generally, policies are constructed so that the amount of employee income that is covered is reduced by the amounts payable by other sources, so that the employee doesn’t end up receiving more compensation while disabled than while actively working.

Who needs Disability Insurance?

Group Disability Insurance is applicable to all businesses and is an important consideration for companies looking to provide comprehensive benefits to their employees. While generally not required by law, there are a handful of states that do have some form of state-mandated temporary disability benefits requirements for employers, including California, Hawaii, New Jersey, New York, and Rhode Island.

According to the 1985 Commissioner’s Individual Disability Table A, 50 percent of Americans will become disabled for 90 days or more between the ages of 35 and 65. There is a good chance that some of your employees will deal with a temporary or permanent disability during the course of their careers. As a business owner, you should consider offering disability coverage for when something like this occurs in order to minimize the financial risk to your employees.

From the perspective of your employees, it is important for you to offer Group Disability Insurance to protect them from the risk of losing financial stability in the event of an accident, injury, or illness. Not only does Group Disability Insurance protect your employees, but it also helps your business in attracting and retaining talent at your organization. These days, employees are becoming more and more aware of the kinds of benefits that employers are offering. In order to be a competitive player for talent, you should consider offering Group Disability Insurance as a part of an attractive benefits package.

We know that everyone has a different way of approaching disability insurance, which is why we offer personalized consultations! We have an extensive knowledge base and are more than happy to share it with you.

Reach out for the help your employees need from our Professionals. Our consultants will go over all insurances options available so they can find one that best suits their needs.

Already have Disability Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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We extend coverage to individuals and businesses in 
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