Benefit Packages | Voluntary | Disability
Hospitalization | Accident | Catastrophic | Disability | Vision | Dental | Life Insurance | Long Term Care
Short Term Disability
Voluntary Short Term Disability (STD) coverage pays a pre-determined percentage of employee wages during a time period in which the covered employee is unable to work due to sickness or accident. The percentage covered is usually slight less than group STD. While group STDs tends to cover 66%, worksite generally covers around 60%. The coverage time period is usually not longer than 6 months.
Long Term Disability
Voluntary Long Term Disability (LTD) coverage is designed to protect employees from the impact of lost income over an extended time period. LTD is more expensive than STD and the coverage period usually starts upon the end of the STD coverage. These plans usually begin to cover the individual after missing 3 to 6 months of work, and are in force up to age 65.
|
