Disability Insurance enables our clients to provide supplemental income insurance when an employee can no longer work due to a disability. There are two types of coverage; short-term disability and long-term disability.
Short-Term Disability Insurance provides supplemental income for a medical leave of absence or if the amount of work hours has to be reduced due to a medical issue. This insurance is for those who will be returning to work in the future.
Long-Term Disability Insurance provides supplemental income if one becomes permanently disabled and cannot return to work.
Both plans can be geared toward percentages of pre-disabled income, up to 70%, or a set dollar amount. Short-term disability coverage can replace 60% to 70% of a base salary and can provide income for up to 1 year whereas long-term can replace 40% to 60% of a base salary for 1 year or up until the retirement age of 65.
Custom Benefits Technologies is here to provide all of the necessary information and administrative help so you can offer your employees/customers the best plans at the best prices for each individual circumstance. Certain working conditions may necessitate higher limits which often are difficult to obtain. Some individuals income may fluctuate. Age, gender, occupation, smoking, length of the waiting period, length of benefits, income and more are only a few of the factors that need to be considered when implementing the right plan for the right person.
Let us set up a benefits administration system for you. The system will allow us to set-up and enroll benefits and format data prior to sending to carriers. We can also help in educating your clients/employees with one on one sessions and have call centers available for additional help and information.
195 Fairfield Ave. Suite 1b West Caldwell, NJ 07006
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Feel free to contact us at any time if you would like information about providing employee benefits.