By offering a full range of disability benefits, you can ensure your employees are covered in the event they’re unable to work. And the result? A happier, more dedicated and more productive workforce for you.
An insured male worker who attained age 20 in 2018 has a 64% chance of surviving to age 67 without ever becoming disabled and a 36% chance of either dying or becoming disabled prior to age 67.1 An insured female worker who attained age 20 in 2018 has a 19% chance of becoming disabled between age 20 and age 60. In addition, the probability that she will die between age 20 and age 60 without ever receiving Social Security disability benefits is only 3%.1
Only 48% of American adults say they have enough savings to cover three months of living expenses in the event they’re not earning any income.2 For these employees, even a minor illness can cause financial hardship, and a serious health problem or injury could be financially devastating. Unum Disability Insurance can safeguard against the unexpected expenses of being out of work and help employees.
There are three types of Disability Insurance you can offer to provide support for your employees in a wide variety of circumstances. Coverage can be employer-paid, employee-paid or shared.
Through return-to-work benefits and programs, Unum also helps employees return to their jobs, saving you the cost and disruption of lost productivity — or hiring replacements.
Together, these plans offer comprehensive coverage to help your employees through a disability.
This benefit can pay a portion of an employee’s compensation while they are out of work due to a covered injury, sickness or childbirth. Benefits can last for up to several weeks.
Long Term Disability Insurance coverage typically begins where Short Term Disability coverage leaves off, providing benefits for illnesses or injuries that have longer recovery periods. Coverage can last from several months to several years.
IDI can provide additional protection for uninsured income, making it ideal for higher salary earners and employees who rely on commissions and bonuses that might not be covered under traditional Long Term Disability Insurance.
|Short Term||Long Term||Individual|
|Length of possible coverage payments||9-52 weeks||Benefits paid until retirement age||Benefits paid until retirement age|
|Amount that the benefit can pay||Up to 60% of your monthly income||Up to 60% of your monthly income||A higher percentage of your pre-disability earnings|
|Portability||Sometimes portable, depending on plan||Portable in most cases||Fully portable|
|Most commonly used for||In 2018, Unum’s leading causes of short-term disability claims were:
||In 2018, Unum’s leading causes of long-term disability claims were:
||In 2018, Unum’s leading causes of individual disability claims were:
By offering both Short and Long Term Disability Insurance through Unum, the plans can work together to keep employees protected when a disability lingers. The long term policy picks up when the short term policy ends, so employees do not wind up “between plans” and face a gap in income. IDI provides additional protection for employees who earn higher incomes.
Available with select Unum employee benefits plans, these services help your employees be even more prepared for challenges life might throw their way.
Your employees may already have a lot on their minds — from finances to relationship issues. Does this affect their ability to focus on the job?
Unum’s work-life balance EAP5 can help employees prepare for the unpredictable — and keep small struggles from turning into major issues. With this program, they can receive guidance and support for issues that take their attention away from your business. And that means they can be more productive, both at work and at home.
Even the most thorough itinerary can’t prevent lost medication, accidents or sudden illnesses. So help your employees prepare — with Unum’s worldwide emergency travel assistance6. This service is available 24/7 to employees when they travel 100 or more miles away from home, whether for work or pleasure.
Plan administrators and managers have a responsibility to stay current on employment laws and insurance guidelines. HR/BenefitsAnswersNow7 puts all the answers you need in one place. These two constantly updated online libraries contain HR compliance and benefits information.
*Injury category includes poisoning.
The policies or their provisions may vary or be unavailable in some states. The policies have exclusions and limitations which may affect any benefits payable. See the actual policy or your Unum representative for specific provisions and details of availability.
Group disability: Underwritten by Unum Life Insurance Company of America. In New York, underwritten by First Unum Life Insurance Company.
Individual disability: Underwritten by Provident Life and Accident Insurance Company, Chattanooga, TN.
In New York, underwritten by Provident Life and Casualty Insurance Company, Chattanooga, TN
These policies provide disability income insurance only. They do NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Department of Financial Services.
The expected benefit ratio for the individual policy is policy is 60%. This ratio is the portion of future payments that the company expects to return as benefits when averaged over all people with this policy.