If you become disabled from an accident that occurred on the job, you would generally be covered by workers compensation.

On the other hand, what if that same accident occurred off the job? Or you unexpectedly were diagnosed with a serious illness? Or you became pregnant? How would you pay the bills? You are still responsible for paying your fixed expenses and providing for your family. In addition, there may be more expenses than normal related to your treatment and recovery. You may apply for Family Medical Leave (FMLA), however, FMLA only holds your position, and it doesn’t replace your income. Voluntary disability programs can provide income replacement for both short and long term disability. A typical voluntary disability plan will replace 60-66 2/3% of your gross monthly income. This benefit is paid tax-free so that it closely resembles your take home pay.

Voluntary short and long term disability can be designed to work in conjunction with any employer paid disability programs. For example, if your company provides a long term disability program to all employees that begins after 6 months, a voluntary short term option may have a seven or fourteen day elimination period and provide a six month benefit duration. In fact, these plans are flexible and can be designed to match any desired elimination period and benefit duration. Offering a voluntary disability plan to your employees allows them to customize their benefits to help meet their needs.