Do your employees have access to disability insurance? If not, then you may want to reconsider. Many people often underestimate the chances that misfortune will happen. A lot of people believe that they are invincible, especially at a young age. But the reality is that life is quite unpredictable, and we want to help you prepare for it. Here are a few reasons why your employees should have the option of opting for disability insurance.
Your Industry is Labor-Intensive or Physically Demanding
If your employees are working in a labor-intensive environment, then the chances of an injury or accident happening are unfortunately high. However, when we think of “disability insurance,” we often think of catastrophic, life-changing accidents, but this isn’t always the case. Sometimes, illnesses do occur that put employees out of commission, and they deserve time off to heal, become healthier, and not spread germs or diseases.
Your Employees Are Breadwinners
There are some households where there is only one person responsible for bringing in income, or at least most of the money. Some employees are the backbone of their families. If an accident were to happen on the job, this could lead to financial detriment and instability. Disability insurance helps to keep perpetual income coming in as a person recovers. It helps a household to recover from a loss of income.
Disability Insurance Helps Lessen the Blow of Medical Bills
Medical bills are expensive. Sure, healthcare insurance helps alleviate some of that expense. However, an employee cannot cover their healthcare insurance when they aren’t getting paid. It’s a domino effect that you have to consider.
How Often Do Work-Related Disabilities Happen?
The New York Times reports that the percentage is closer to 30%. The Social Security Administration (SSA) states that it’s about 25%. So, this percentage doesn’t seem super high. Some employees may find that they’ll go their entire careers without using their disability insurance, which is excellent. We hope that employees stay agile, productive, and safe during their working years. However, the point is that it’s a beneficial cushion, covering recovery for back pain and arthritis or something more severe such as cancer or mental health issues. If your employees stand on their feet all day, lift heavy equipment, work around hazardous materials, or have forward-facing, stressful positions, then do them a favor and give them options to prepare for the misfortunes of life.
Partner with Malden Solutions Today
Malden Solutions has a wealth of expertise in providing employer insurance solutions, HR solutions, and individual insurance solutions to businesses both big and small. Our team of seasoned professionals can help you navigate the rapidly-changing world of insurance with ease. We partner with businesses and individuals throughout the country to provide our dedicated services for employee benefits but also work within our surrounding communities in Maryland, Northern Virginia, and Washington, D.C. Contact us today to learn more about how we can provide effective, dynamic solutions for your business. Stay connected with us on Twitter, Facebook, and Linkedin.