Employee Benefits
Group Long Term Disability Insurance
What is it?
Group disability insurance provides a source of income to help protect an individual's lifestyle, should they not be able to work because of a serious illness or injury. Although plan designs vary greatly, group disability programs technically provide the disabled individual with compensation based on a percentage of their actual income. Benefits generally last for a limited time to encourage a timely recovery and return to work.
Why does your business need it?
Many studies show that during working years, the change of an individual becoming disabled for more than three months is much higher than the chance of dying. This means that there is a greater potential for lost productivity, directly affecting a company’s bottom line. It is prudent for an employer to offer solutions to their employee population that will help to advance workplace productivity and ensure minimum disruption in workflow due to long term absences. In fact, some states mandate that employers provide some form of disability coverage to their employees.
When should you buy it?
As with most insurance, the best time to purchase is before a risk is taken.. Depending on the nature of your business, varying plans and levels of coverage may be appropriate. HSBC will explore and understand your business in order to recommend the appropriate type and amount of protection.
Why Trinity Brokerage?
Trinity Brokerage is uniquely qualified to help you and your business satisfy your insurance needs. We search the marketplace for best-in-class providers to bring you tailored solutions for your business protection plan. We pride ourselves in providing outstanding personalized service. For more information please contact us.