Tags: Disability Insurance

Insurance Spotlight: Employee Disability Insurance

Disability insurance provides coverage 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 replaces a portion of employee income when they can’t work because of an illness or disability. Disability insurance will not replace all of an employee’s income but provides wage replacement benefits that cover, on average, up to 60% of employee earnings. Those payments usually go up to a cap, or a maximum monthly... Read More

The Insurance You Need Now: The Value and Importance of Disability Insurance

Consider how long you can afford to go on vacation until you can’t afford to pay your bills. Now substitute your vacation for an accident that leaves you unable to work.  Most of us buy insurance to protect our home, car and health, but we tend to ignore the most important asset which needs to be protected – our income. Your earning power is one of your greatest financial assets. That’s why it is important to consider disability insurance, which provides a source of income to people who are unable... Read More

The ‘Benefits’ of Accident Insurance and How It Can Supplement Your Health Insurance Policy

Do you know what benefits you are entitled to if you have an accident insurance policy? Let’s break things down… an accident insurance policy pays out a lump sum if you incur specific kinds of injury as a result of an accident. Similar to, but legally distinct from health insurance, accident insurance complements disability insurance by allowing you to claim benefits even if the injuries you incur do not keep you out of work. Accident insurance may also complement health insurance if an accident causes you to have medical expenses... Read More

New Group Disability Claim Rules for Employers

New Group Disability Claim Rules for Employers

In January of this year, the Department of Labor (DOL) announced that, as of April 1, 2018, employee benefit plans will be required to comply with new requirements for disability benefit claims. These new rules are in effect now. In 2016, the DOL released a final rule to strengthen the claims and appeals requirements for plans that provide disability benefits and are subject to the Employee Retirement Income Security Act (ERISA). The final rule was scheduled to apply to claims that are filed on or after Jan. 1, 2018. However,... Read More

Disability Insurance: What it is and Why You Need It

Disability Insurance What it is and Why You Need It

Disability Insurance may be one of the most essential and most overlooked insurance coverages. When it’s time to select insurance benefits, most people think of health, dental, vision and life insurance, but are often slow to consider disability insurance. The reality is that at least one-third of American workers will be disabled and have to miss more than 90 days of work during their careers. And more than one in four can expect a disability that will last a year or more before they reach retirement age. And the vast... Read More

Disability Insurance Can Help When You Can’t Work

Disability Insurance Can Help When You Can’t Work

Have you ever suffered an injury or illness that caused you to miss work? Not just for a sick day, but for a month or two—or even longer? If you have, how did you make up for the lost income after you ran out of sick leave (if you even had it)? If you haven’t, have you thought about what you will do when it does happen? Are you thinking it isn’t going to happen to you? According to disabilitycanhappen.org, more than 25% of today’s 20-year-olds will become disabled before... Read More

Are You Prepared for a Disability?

Are you prepared for the possibility of a disabling injury or illness that could keep your from working? Do you have a plan for what you will do and how you will pay your bills if one happens? Most workers do not realize the risk they are taking by not protecting their paychecks from a disability. Check out the infographic below and see how accurate your knowledge of your risks are. And then call Roper Insurance, where we can help you find the right solution to protect your paycheck and... Read More

Disability Insurance Basics–Is Your Paycheck Protected?

Disability Insurance Basics-Is Your Paycheck Protected?

Your most valuable asset is your ability to earn an income. Have you ever thought about what would happen if you experience a serious illness or injury? How would the loss of your income impact you? In addition to your day-to-day living expenses, a disabling injury can also lead to additional expenses, such as increased medical and household costs. If you’re like most working Americans, your savings account isn’t nearly big enough to see you through a disabling injury or illness. Even the loss of one paycheck, coupled with medical... Read More

4 Reasons You Need Key-Person Insurance Now

4 Reasons You Need Key-Person Insurance Now

Key-Person Insurance is life and/or disability insurance on the critical employees in your company. This could be business partners, executive officers or other key employees upon whom the success of the business depends. If your business isn’t protected, an unexpected injury, illness or death could torpedo the success you’ve worked so hard to achieve. Key-person insurance can protect that success and help keep your doors open. Here are four ways key-person insurance can benefit your company and why you need it today.   Maintain Revenue During a Transition If you... Read More

What is Key-Person Insurance and Why Do I Need it?

Protect key employees with key person insurance

Is there someone at your company—maybe even you—who is essential to the success of your company? Have you ever thought about what would happen to your company if something happens to that key person? Most businesses have at least one key employee who is essential to the company’s success. This person may be a partner, owner, majority stockholder or another individual who is crucial to the business. If this person unexpectedly leaves the company—due to a death or disability—it could make it hard for the company to survive and prosper.... Read More