Liberty Mutual Insurance has unveiled its new Benefits Select product line in an effort to better serve mid-sized businesses and the employee benefits consultants and brokers who work with them. The Benefits Select group disability product suite is designed to be a cost-effective way for these employers to be able to offer more attractive passengers to current and potential employees so that they will experience better retention while still keeping an eye on the bottom line. According to the chief operating officer at the group benefits unit of Liberty Mutual…
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The search for disability insurance
Group disability insurance is a form of protection for a group of people who are connected in some way – such as through an organization such as a trade association or employer – and covers the individuals from the losses to which they are exposed in the case of illness or an injury from an accident. Group disability insurance is typically less expensive than a policy purchased by an individual, though it should be noted that the benefits are limited to a maximum monthly income and a certain length of…
Read MoreDisability insurance becomes more complex and expensive
Employee disability benefits, as is the case with virtually every other kind of workplace benefit, has become an expense that workers are beginning to need to pay for and manage – at least to some degree – themselves. Now that the 2012 open enrollment season has begun, an increasing number of employers are requesting that workers take on some of the financial burden for some of the more high-end forms of disability protection. Mercer benefits consultant partner, Rich Fuerstenberg, said that he has been witnessing a gradual trend toward workers…
Read MoreInsurance changes to New Jersey’s disability insurance pool make coverage more affordable
New Jersey’s disability insurance fund will see some changes in the coming months, according to Governor Chris Christie. This week, the Governor announced that state employees can expect to see lower premiums for the state’s disability insurance pool. The Governor believes that state workers have been paying more than is necessary to keep the program afloat and has teamed with the commissioner of the Department of Labor and Workforce Development, Harold Wirths, to make changes to the state-run program. Currently, the state withholds funds from workers’ paychecks to cover the…
Read MorePregnancy disability insurance in California has been extended
New legislation in California will mean that employers will be required to extend their pregnancy, childbirth, or related medical condition, disability insurance coverage for workers for up to up to 16 weeks. Senate Bill 299 was signed into law by Governor Jerry Brown and will become effective on January 1, 2012. It will require employers to provide continuous health insurance coverage for up to 16 weeks for workers that are disabled due to pregnancy on the same grounds as they would before a they had taken any leave of disability.…
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