When people are looking for jobs or to establish careers, one of the drawing factors for them, besides the salary, is the benefits package. Employers should ensure they have a great benefits package to bring in top quality people to their company. Part of this package has a group disability plan that employee’s will be satisfied with. An insurance agency that offers Group Disability Plans in Macon GA helps employers put together an attractive package.
What Is the Difference in the Types of Group Disability?
Some employers weigh the options of offering their employees group disability insurance or leave them to just get individual disability insurance. The two types of group disability insurance are short term and long term. The short term provides weekly benefits for the employee who has affected totally or partially by a covered incident such as pregnancy, illness or mental disorder. The long term group disability has an initial elimination period of 90 days, after which the employee will begin to receive benefits anywhere from two years to a lifetime.
Things to Consider about Group Disability
While getting a group disability policy certainly has its attractive points, there are some other things the employees will want to consider. For example, to draw on the group disability policy, most of the policies require the employee to be totally disabled. It is also good to note that if the employer is paying the premium for this insurance, the employee will have to consider the tax consequences. The benefits are taxable to the employee.
What Employers Can Do to Help Their Employees Decide
The greater thing that an employer can do is to have a company wide meeting with employees to give them a thorough explanation of what the benefits and drawbacks are of each group insurance option. This will seal the trust an employee has for the employer. It will also put the employee in better charge of deciding what is best for him or her.
Agencies Who Can Provide Employers with Total Benefit Package Service
There are several agencies who can provide employers with what they need for their employees’ benefit packages. Stone Insurance Agency Inc. has been offering services for over three decades. If employers or employees are looking for Group Disability Plans in Macon GA, they are available.
