ROUGHLY ONE IN THREE workers over the age of 30 will become disabled for at least three months at some point during his career. This makes disability insurance one of the most important, but frequently overlooked employee benefits.
Principal added group voluntary short-term and long-term disability insurance to its suite of voluntary worksite products.
Group voluntary disability insurance replaces a portion of income for employees who are unable to work or who have reduced income due to time away from work because of an illness or injury. At no cost to the employer, employees receive a group rate and pay for the benefit through payroll deductions.
Employers can tailor a program to fit them individually, both financially and to meet employee needs. An employer may choose to fully fund a long-term program to ensure employees' long-lasting needs are met while offering a voluntary short-term disability program to give employees a safeguard against injury or illness.
