Group disability insurance may be one of the most valuable — and often overlooked — employee benefits that small businesses can offer. It helps replace lost income if an employee is sick or injured, even if the illness is not work-related. 

What Disability Insurance Covers

A good place to start when deciding if you should offer it or not is to learn exactly what a policy covers. While each one will be slightly different, most replace partial wages when an employee is unable to work as the result of an illness or injury that is not work-related. 

There are both short- and long-term coverage options. These differ in how long they pay benefits, with some lasting for weeks and others lasting for many years. 

Benefits of Offering Disability Insurance

Disability insurance is generally very affordable, making it an attractive option for small businesses with tight budgets. Additionally, it helps ensure that employees do not return to work too soon after an injury when they are not fully able to perform job duties.

Since it replaces lost wages, small business group disability coverage is an attractive benefit for many workers. It can help them stay afloat and cover bills while they focus energy on getting better. That means it can be a powerful tool in your recruitment strategy. 

There are many benefits to offering disability insurance to your employees. However, each business should weigh the potential benefits against the cost before adding it to an employee benefits package.