Disability Income Insurance for Your Employees
Financial security is a critical concern for employees, particularly when it comes to the risk of being unable to work due to illness or injury. Employees want benefits that can provide them with financial protection, such as disability income insurance coverage. Guaranteed Standard Issue makes it easier for you to provide it.
Why is disability income insurance an important benefit?
DI insurance replaces a percentage of your employee’s income while they’re unable to work due to an illness or injury. This helps your employee pay for things like their mortgage or rent, groceries and other ongoing expenses.
Group DI insurance typically replaces only a percentage of an employee’s base salary, often around 60%, and is usually capped. Individual policies can help fill the gaps left by group plans, or they can be offered as stand-alone DI insurance protection.
How does GSI work?
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Flexible design
With this coverage, you can design protection for various classes of employees with discounted premium rates. You decide what features to include in your plan, who the plan covers and which billing option you prefer.
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Streamlined administration
Each applicant fills out a simple application. There is no detailed medical underwriting or financial documentation required. If approved, your employees will receive individual policies, often at a lower cost than if they bought one on their own.
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Convenient support
We provide an annual review process for you to add new employees to the program and to increase coverage for employees who’ve had salary increases.
Why Ameritas?
In addition to providing a valuable employee benefit that’s simple for you to provide, our GSI program offers:
- Employer or employee paid policy options.
- Competitive monthly benefit amounts.
- Policies that are individually owned and portable.
- Contractual guarantees and features not found in typical group plans.
- Coverage for most non-medical, white collar occupational classes.
How do I get started?
If you think offering GSI DI insurance might be a good fit for your business and your employees, reach out to your financial professional or we can help you find one.