Disability Insurance in Pennsylvania is a form of protection for the income of the insured person. Benefits can begin in the event that a disability makes it impossible for the person to carry out the basic functions of their employment. It includes paid sick leave, and long-term, and short-term disability benefits. There are several types of disability insurances available, including employer supplied, individual, high limit, and key-person disability insurances.
Employer supplied policies are one of the most common types of disability coverage. This can include workers’ compensation coverage, as well as coverage for disabilities not resulting from a job-related injury or illness. Many employers offer disability coverage for their employees.
Individual insurance policies can cover those who work for companies that do not provide this type of insurance to their employees, or who are self-employed. Premiums can vary widely depending on the industry or location.
High-limit disability insurance in Pennsylvania options usually cover 65% of income, regardless of the income level. It is usually offered as a supplemental insurance added to the standard policy offered by an employer. It can provide from $2,000 to $100,000 a month.
Disability of a key person in a company can cause financial hardships for the business. With funds from insurance that covers these hardships, temporary employees may be hired, or new employees may be trained.
In addition to these types of disability insurance in Pennsylvania, there are many other options for disability coverage. Visit the Nottingham website for more information.