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Paid Family Leave (PFL) provides eligible employees with job protection and paid time off for certain qualifying events. Employees can take leave knowing their job is secure, they’re receiving a portion of their salary, and that health benefits are still in place.
Eligible employees receive job protection and partially paid time off to bond with a new child, care for a seriously ill family member, or attend to family matters due to a military exigency. But traditionaly only lasts up to 12 weeks.
Disability insurance provides partial income so you can pay your bills if you get too sick or injured to work. Disability happens to more people, more often than you may think. In fact, more disabilities are caused by illness than injury, including common conditions like heart disease and arthritis, and most disabilities are not covered by Workman’s Compensation.
Starts after being out of work for more then 12 straight weeks, but ends before 26 weeks
Having Short-term Disability insurance remains an important part of an employer’s benefits package. It helps fill income gaps for seriously ill employees who need extended time off.
So for example, let’s do the math: PFL runs out at 12 weeks and LTD starts at 26 weeks. An employee could go 14 weeks without wages. But, STD plans commonly have six months of benefits and can bridge that gap and can be that safety net for families.
Starts after being out of work for more then 26 straight weeks
Long-term disability insurance (LTD) helps ensure employees continue to get a portion of their income when they’re absent from work for an extended period due to a covered disability. These absences may be a result of accidents, injuries or illnesses that happen on or off the job.
LTD is an important type of coverage for employees because their savings might not cover daily expenses if an illness or injury keeps them out of work beyond their paid sick days.
Why Employees Need Long-term Disability Insurance
Health insurance only covers medical bills. It won’t pay for groceries or rent. And Workers’ Compensation kicks in only in the event of a work-related injury or accident.
Long-term disability insurance covers injuries sustained inside or outside of work. Covered conditions include: