If you are a smart employer in Fort Lauderdale who is interested in retaining your employees for several years, then you may want to offer your team a great medical and insurance package to avoid a revolving-door scenario. Studies show that when the benefits package is attractive, employees tend to stay longer in their positions. There are a few different types of insurance products that you can offer your employees, and group long term disability insurance is one of them. Simply put, it acts as an employee’s safety net. Employer group coverage helps protect your employees’ ability to earn an income if they’re unable to work due to a lengthy illness or unforeseen injury. It goes into effect after your employee has been out of work for a specified period of time.
Additionally, one of the perks of acquiring group LTD insurance is that you can choose to pay all of the premiums for your employees or partial. While it may not offer your employee as much coverage as private long term disability insurance would, it is definitely a viable supplement.

What are the pros of group long term disability insurance for an employer in Fort Lauderdale?

1. Affordable. When a group of employees buys into this type of insurance, it can be more cost-effective as the employees can pick up part of the premium.
2. Incentive. The last thing you want is to lose a valued employee that’s been with you for years when an opportunity with a more attractive benefits package comes their way.
3. Term. The amount of time an employee can receive group LTD benefits varies, but usually, it is for the length of time of the illness and when they return to work.
4. Choice. You can choose from a range of features to customize the coverage that’s right for you and your employees, including flexible options like maximum benefits, benefit payment periods, and more.

What are the cons of group long term disability insurance for employees in Fort Lauderdale?

1. Group LTD insurance only pays a portion of your salary, but it can be used as a supplement to your personal long term insurance policy.
2. Group LTD payouts are reduced by related payments from workers’ compensation and Social Security short term disability payments.
3. Your policy is not portable. If you leave the company for any reason, the policy and its accrued benefits stay.
4. Yearly premiums increase. However, the premium increase is generally minimal.

At Lewis & Palmer Benefits, we want to see your business in Fort Lauderdale succeed, and to do that, providing the right benefits package for your employees is a priority. Our expert team of insurance agents will meet with you and take the time to educate you about our products. What’s more, we stay abreast of all market trends and can offer you the best group products, whether it is medical, dental, disability, or life insurance. Live for today and tomorrow. Why not choose a package that combines group disability insurance with life insurance? Each package is tailored to offer the coverage your employees need at an affordable price. Call (877)-LPHELP1 now or visit www.lpbenfits.com to find out more.