Disability Insurance.

Disability insurance is designed to protect employees’ lifestyles from possible loss due to missed payments. When people are hurt the mortgage still has to be paid as do the rest of the bills for the household. Missing meals is not a part of anyone’s plan, but becomes a very real possibility if insured people become injured, and miss a month of work. Most people know that we are supposed to have savings, but with how times are now the number of people who have just an extra month's worth of savings to make sure they do fall behind is fewer and fewer.

For employers who offer Colonial Life disability policies worker’s compensation insurance has been known to become affordable. WE DO NOT PROMISE THE PREMIUM WILL LOWER. Offering on-site policies, as well as off-site policies, have been known to lower the likelihood of having what has become known in the industry as ‘Monday morning injuries’. These are injuries that people have during the weekend, and save for the week when they are at work to make a worker’s compensation claim having that insurance pay for the injury. When an off-site disability policy is offered the insured are able to go to medical treatment and cut down on the likelihood that they will save the injuries for when they are at work on Monday.

When a disability policy is used up to 60% of the average monthly payment for the insured will be paid to the individual. Disability policies are not available for purchase to cover spouses or children. Disability policies are only available for sale to cover the employee for the firm which is offering Colonial Life products. Colonial Life also does offer group disability policies that are employer paid. The disability policies are guaranteed issue to be able to cover the people who work for the firm. Disability policies are age banded as well. Once a quote is made from Colonial Life that is the amount that the individual who is covered will pay for the lifetime of the policy. Disability policies are also portable to go with the employee after they have left their employers.

For employers who offer on-site disability policies may also lower their worker’s compensation insurance premiums because the payout from the Colonial Life policies will be processed first, and the worker’s compensation will be processed. The worker’s compensation is paid out to the maximum amount the employee can receive from them. The total amount of money that the worker’s compensation insurance company would potentially be less. Colonial Life is taking on part of the risk. The amount that Colonial Life charges for the amount of risk is less than the amount that worker’s compensation charges.

For women who are planning on having a child, and are still NOT PREGNANT the purchase of a disability policy, and filing a claim at the time of birth can provide a cash payout that acts as a type of maternity leave for the new mothers. The amount of time that Colonial Life allows for is six weeks (6-weeks). The amount that is paid is 60% of the insured’s average pay.