Disability insurance is coverage that protects workers who may one day fall ill or come across an unfortunate circumstance that prevents them from being able to work. The coverage usually comes in a package of newhire benefits that become valid either 30, 60 or 90 days after the person starts in most cases. Sometimes workplace benefits become effective immediately but that is usually not the normal practice.
Work benefits like disability coverage have premiums that the employee must pay, but usually, the employer conveniently deducts the monies from the worker’s paycheck. The premium is usually subsidized, as well, meaning the worker only has to pay a small fee to maintain coverage.
This type of coverage is very easy to navigate and use. If anything happens to the worker, such as an accident on or off the job that causes an illness, that person is able to file a claim. Even if it had nothing to do with the job, the policyholder is still eligible to file a claim. The person will have to first visit the doctor and get a diagnosis and an estimated “”return to work”” date. The worker will then need to submit that information to the insurance company so that the insurance company can decide whether it will honor the claim. If the insurance company honors the claim, the injured workers will get a percentage of his or her wages so that he or she can pay the bills during the recovery period.
There is basically two types of insurance coverage when it comes to workplace insurance, and that’s short-term and long-term. Short-term coverage can last up to one year, and then long-term coverage would need to take over. Both insurance types cover physical injuries, illnesses and a number of mental and emotional issues.
The major benefit of having insurance is a peace of mind. No one ever knows when something unfortunate will happen, so it’s best to have the coverage so that the person can get at least a portion of pay while he or she is healing from the incident. For just a small fee, the employee can feel confident about being covered if anything should happen.