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Group Short Term Disability
Short Term Disability (STD), also known as Weekly Income, covers employees who become disabled as a result of an injury or sickness for a temporary period. It replaces a percentage of the income employees would have earned had they been able to continue working. It protects an employee’s greatest asset, the ability to earn an income. This is important to an employer as a benefit that will attract and keep good employees. In addition, it is important because salary continuance or sick pay programs can be an administrative headache and expensive.
A Short Term Disability plan requires an employee to be away from work due to illness from one to seven days or longer before benefits begin. For accident and hospitalization, this period may be shortened or eliminated. In addition to being absent from work, the employee must be under the care of a physician to be considered disabled and eligible for benefits.
