Short-Term and Long-Term Disability

Short-Term Disability Income Insurance is designed to provide benefits for a temporary period of time, usually three to six months. Long-Term Disability Insurance is designed to provide benefits for disabilities that are either permanent or partial after a period of three to six months for upwards of 24 or 36 months or potentially to age 65 in certain circumstances.

The income replacement for disability plans is vitally important to those in need – studies have shown that a person is more likely to suffer a disability of some kind than to die at every age up thru retirement age.

Disability Payments and Taxes
When you buy disability income insurance, the benefits paid are generally income tax free. If an employer pays all or part of the premium for group disability insurance coverage, the payments are taxable income to you. Consult your tax advisor to see if this applies to your specific financial circumstances.

The experts at Bearence Management Group have a variety of group, individual and voluntary disability plans that they work with. They will evaluate your organization's needs and develop a plan for you.