Many people today find themselves in a situation in which at any given time, one incident can cause financial catastrophe. A medical diagnosis, accident, injury, or some other event can quickly cause a person to be unable to work, even permanently. Between the age of 20 and retirement, one in four people will be out of work for at least a year due to a disability, according to the Council for Disability Awareness. In the next year alone, five percent of working Americans will become unable to work for up to six months due to illness, injury, or pregnancy, most of which are not work-related. The leading causes of disability are pregnancy, musculoskeletal disorders, mental health issues and injuries such as fractures, sprains, and strains. However, people become unexpectedly disabled from countless causes. You simply never know when your life will be impacted by disability.
Short-term disability and long-term disability coverage can provide valuable protection for both employees and employers. A disabled employee with short-term and/or long-term disability insurance can focus on recovering from an injury or illness, or adjusting to living with a new condition, whereas one without short-term or long-term disability coverage may very well face financial ruin, which can also be catastrophic for anyone who is financially dependent on the employee. Having short-term and long-term disability insurance can easily mean the difference between a period of inconvenience and one’s life being completely upended.
For employers, providing short-term and long-term disability insurance coverage can allow employees to perform their work without the unnecessary stress that comes along with not having a financial plan in case of a disability arising. Employers who provide disability coverage will naturally attract higher quality candidates, so it stands to reason that those employers will enjoy better production than those who do not provide such coverage.
May is Disability Insurance Awareness Month, so there is no better time for employees to assess their coverage, and if they are not protected by short-term or long-term disability insurance, to consider obtaining such insurance. For those who already have short-term and long-term disability insurance, it is a perfect time to become more knowledgeable about disability insurance, such as how it works, what it covers, what the claims process entails, and how they can be protect themselves into the future. If you have any questions about short-term or long-term disability insurance, reach out to our trusted counsel for disability insurance matters in San Diego for a free consultation.
Disability Insurance Awareness Month is also an optimal opportunity for employers to reflect on the coverage their plan provides to employees. There are many different group plans, addressing various needs and providing different benefits. Employers can consider whether their group plan is meeting their employees’ and the company’s needs, and can educate themselves on types of plans, which may allow them to better meet the employees’ and company’s needs. If you are an employer with questions about the various plans available, contact a group insurance provider now to be sure that you have the group insurance plan that is the best fit for your company and its employees.
Whether you are an employer or an employee, short-term and long-term disability coverage can be a significant factor for you. This May, take some time to further educate yourself about disability insurance. You do not need to face issues related to disability matters alone. The experienced disability insurance attorneys at McKennon Law Group PC are available to assist you, if you have a few basic questions about short-term or long-term disability insurance or you have made a claim that was denied by an insurer and you are ready to appeal the denial or bring a lawsuit to recover your disability benefits. The lawyers at McKennon Law Group PC have the expertise to assist you.