How Does The Disability Income Insurance Works?

A good employee is a a valuable asset for the company. But often in some unforeseen circumstances, such as in the case of the disability, the productivity of the employee is reduced. This can result in disruption of income, loss to the company to which the employee may be associated.

That is where the Mutual of Omaha’s Disability Income Insurance comes to save the cause. The plans are specifically designed to replace the effort of an employee which is hampered due to disability until he / she gets well and returns back to the same income levels.

Medicare supplement plans for 2019 will help pay those deductibles from Medicare Part A and B. This can add up to a lot of savings.

The Different Types of Disability Income Insurance

For Short – Term Disability

Short – term disability assists the employees who do not have enough capacity to sustain due to the lost income incurred during the recovery period.

Incentives are provided on return to work which portrays the effort by the Insurance to enable employees to recover sooner and recreate the same productivity levels.

For Long Term Disability

This form of the plan provides financial security to employees suffering from extended illness or chronic diseases. The plans are designed to meet the requirements of budget and the workforce keeping the need of financial security in mind.

Benefits of the Disability Income Insurance

For The Employer

  • Flexible designs in plans
  • Plans available with Voluntary, Contributory and Non – Contributory option
  • Definition of Disability by own job and not own occupation
  • Plans may or may not include annual enrollment, and the pre-ex limitation is reduced
  • The Pre-ex is not considered for employees when their insurance is enrolled under a prior individual or group short term plans

For the Employee

  • Assured peace of mind to put their entire focus on recovery
  • Monetary benefits in the form of cash to sustain payments
  • The premium is waived while receiving the disability benefits
  • Tension – free and hassle free transition to the long term insurance disability plan
  • Covers more than 50% of salary for the long term insurance plan

 

Additional benefits are provided by the Insurance agents by extensively educating the employees for the most suitable plan and keeping the cost of signing up low. Also, assistance is provided throughout to consult, plan, and execute the disability insurance enrollment. Informative meetings are organized through the important periods of the plan and personalized enrollments are also provided.