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Big Benefits for Small Companies that Offer Disability Insurance
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Thursday, June 18, 2015

Most employers—large or small—understand the benefits of offering disability insurance to their employees. But what seems to be less clear is that offering DI can benefit the company as well.

A recent survey of 500 small companies by the Consumer Federation of America and Unum showed that nearly all of the employers surveyed (94%) understood that disability insurance is an important financial safety net for employees who would otherwise struggle to pay bills if they were unable to work for six months or more due to disability. But less than half (47%) offer the benefit to employees, missing an important opportunity to attract and retain the best employees.

When you meet with business owners to discuss the benefits of offering disability insurance to employees, emphasize the following points from the study:

·    Companies that do not offer DI often believe the monthly expense would be too high for employees. However, a high majority of workers surveyed (86%) indicated that they would prefer to have DI through their workplace, even with a monthly premium, than to not have it at all.

·    Employers who do not offer DI tend to overestimate the cost. Make sure your clients understand how affordable a group DI policy can be.

·    86% of employers who do offer DI believe that employees highly value the benefit. And 81% of employers who offer DI believe it’s an indication of a responsible company.

·    More than half of the companies surveyed believe that offering DI saves them money by helping employees return to work faster.

·    Employers who offer DI have an easier time of managing disability-related absences.

Contact us anytime for information and statistics to pass on to clients considering DI for their employee benefits package. 





 
 
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