Disability insurance replaces a percentage of an employee’s income if they become disabled as a result of a covered injury or sickness, to help them continue to pay their bills while they’re out of work. Generally, length of disability coverage can vary from 3–12 months (for short term disability) to 1 or more years (for long term disability). To longer periods up to age 65 or 70.
Elimination or waiting periods can be for 1st day accident to 7 th day illness to longer. See your benefits consultant for more information.
These plans are also convertible or portable, so if you retire, transfer, or leave employment you can take it with you.
