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Group Disability Insurance

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Group disability insurance is provided in a single policy that covers an entire company or group. It can be a valuable part of an employee benefits package that serves to protect your company’s most valuable asset – your employees. An agent at ISAA Insurance & Financial Services in Winston Salem, North Carolina, can work with you to structure a group disability program to suit the needs of your company or group.

Group Disability Insurance Options

Disability insurance is private insurance designed to replace a portion of an employee’s income in the event of a disabling illness or injury. Employers can choose from a range of insurance options. The basic types of group disability insurance are short-term and long-term.

Short-Term Disability Insurance

Short-term disability (STD) replaces a portion of income for a limited period after the disabled employee has exhausted the available sick leave. Depending on the plan, STD will pay out benefits for anywhere from 9 to 52 weeks.

Long-Term Disability Insurance

Long-term disability (LTD) replaces a portion of a disabled employee’s income after the employee has used up both sick leave and short-term disability benefits. The duration of the payouts varies depending on the plan. Some LTD policies will payout for a certain number of years (such as 2 to 5) or until the disabled employee reaches a certain age (such as 65).

Group Disability Insurance Costs

The cost to employers for group disability insurance typically ranges between 0.25% and 0.5% of total compensation, whether there are two employees or 2,000. This makes it a good investment for small business owners from an employee recruitment and retention standpoint. Various factors may affect the cost of disability insurance. Our agent at ISAA Insurance & Financial Services can help you find the coverage you need at the lowest available rates.

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Superior service both Heather and Devora are experts in this field.

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Heather is hands down the best agent around!

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"She helped me for years to realize the importance of planning now for later."

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"I'm so grateful for their support, guidance, and proactive care."

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