If you are an employee you probably have heard about disability insurance. You most likely see a line on your pay stub that your employer deducts from you to pay into SDI, aka state disability insurance, for you. Maybe you are wondering just what disability insurance is and the different types of disability insurance coverage that is available to you.
The state run disability insurance is an employer and employee paid coverage that provides short term disability insurance (DI) and paid family leave (PTL) income to employees that may need time off work for non-work related illness, injury, or, for PTL coverage, family needs. There are restrictions to this coverage and you have to have paid into the program a specific amount to be eligible for the coverage.
Because of limitations to the SDI program, there are options through independent insurance agents to obtain additional short term disability coverage. These options will provide for those who work for an employer or have a small business with payroll deductions.
Who needs Disability Insurance?
Anyone who is employed and is at a risk of losing income due to a disabling injury or illness that lasts for more than 8 days.
Who is eligible for Disability Insurance?
Anyone who is employed and is working with an employer with payroll deductions can add additional coverage.
If you are the main bread winner in your home, what would happen should you not be able to work for an extended period of time?
If you are a small business owner, are your employees covered fully or are there gaps in coverage that you can help close by offering additional policies?
Ask me how I can help close the shortfall of loss of wages for those injured or ill or to add it to your employee benefit package.