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Comprehensive Disability Insurance Solutions

Protecting Your Workforce in Wisconsin
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Oshkosh Insurance Agency/ disability insurance

Secure Your Employees with Disability Insurance from Oshkosh Insurance Agency

Disability insurance protects your workforce if they cannot work for some time. As an essential component of a robust employee benefits package, Oshkosh Insurance Agency can help you design a custom plan that addresses all your needs.

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Recruitment & Retention
Employees & Families
Product Customization
Potentially Portable
Tax deductible premiums

Recruitment & retention coverage

Risk Factors

It is essential for small businesses to offer comprehensive benefit packages if they want to stay competitive with other employers within their industry.

Solution

Disability insurance can be offered to compete for top talent and contribute to employee satisfaction with these valuable workplace benefits.

Employees & families coverage

Risk Factors

When an employee gets disabled due to an accident or a disease, they may keep thinking about the medical expenses and lose their peace of mind.

Solution

It replaces some or all employees' income during disability to keep them focused on recovery and returning to work.

Product customization coverage

Risk Factors

Every employee has their own needs and requirements. Hence, it is always advisable to customize the benefits to protect every employee.

Solution

In many places, the employer can design a plan that meets the needs of their business as well as their employees. For example, choosing elimination periods, benefit durations, partial disability benefits, return to work benefits, administration services, and more.

Potentially portable coverage

Risk Factors

Employees may constantly worry about the benefits while changing their jobs/employers.

Solution

Depending on the plan design, covered employees may be able to take their coverage with them if they leave the company.

Tax deductible premiums coverage

Risk Factors

Businesses are always concerned about how much tax they should pay.

Solution

You can take pre-tax company-paid premiums as a business tax deduction.

Understanding Disability Insurance

Disability insurance steps in when an employee becomes disabled and cannot work. Unlike workers' compensation, which covers injuries sustained on the job, disability insurance provides partial wage replacement for illnesses or disabilities that occur outside of work.

Health insurance ensures employees receive necessary medical care, while disability insurance replaces a portion of their income when they cannot work due to illness or disability. According to the Social Security Administration, 25% of all 20-year-olds will become disabled before they turn 67. Despite this, many people need to be made aware that insurance products exist to replace their income during such times.

What Does Disability Insurance Cover?

Group Disability Insurance offers a percentage of pre-disability income if an employee cannot work due to illness or injury for a specified time. Employers typically opt for plans covering 50 to 60 percent of income. It's important to note that Group Disability Insurance does not cover medical expenses but solely provides income or wage replacement benefits.

These plans often consider other disability payments or benefits an employee might receive from sources like Social Security Disability Insurance (SSDI) or workers' compensation. Policies are generally structured so the total income received from all sources does not exceed the employee's pre-disability earnings.

Who Should Consider Disability Insurance?

Disability insurance is crucial for businesses of all sizes, particularly those offering comprehensive benefits packages. While not usually required by law, some states, including California, New Jersey, New York, Hawaii, and Rhode Island, have state-mandated temporary disability benefits for employers.

The 1985 Commissioner's Individual Disability Table A indicates that 50 percent of Americans will experience a disability lasting 90 days or more between ages 35 and 65. This underscores the likelihood that some employees will face temporary or permanent disability during their careers. As a business owner, providing disability coverage helps minimize financial risks for your employees.

Having Group Disability Insurance is vital for employees to maintain financial stability after an accident, injury, or illness. By providing this insurance, your business can also benefit from attracting and retaining top talent. Employees today are increasingly discerning about the benefits employers offer. To remain competitive, consider including Group Disability Insurance in your benefits package.

Personalized Consultations for Your Needs

Recognizing that each business has unique needs regarding disability insurance, Oshkosh Insurance Agency offers personalized consultations. Our experts will guide you through the options to find the best fit for your employees' needs.

Contact Us Today

Let Oshkosh Insurance Agency help your employees find the protection they need. Reach out to our professionals in Wisconsin and discover the best insurance solutions tailored for your workforce.

Already have Disability Insurance? Switching is easy

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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Oshkosh Insurance Agency

We extend coverage to individuals and businesses in Oshkosh, WI and surrounding areas.

310 W Irving Ave, Oshkosh, WI 54901, United States
9204265520
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