Many employers offer long-term disability insurance as part of their benefits package, which canbe advantageous for employees. Employer-sponsored plans often come at a lower cost to employees compared to individual policies. These group plans typically cover about 60% of an employee’s gross monthly income. One of the main benefits is that employer-sponsored plans usually have simpler underwriting processes, making it easier for employees to qualify.However, it’s important to note that these policies are often less comprehensive than individual plans and are not portable – meaning you can’t take the coverage with you if you leave the company. Additionally, benefits from employer-paid policies are usually taxable, whereas benefits from individually purchased policies are typically tax-free.
