IOA Group Disability Insurance
Being unable to function in your typical capacity or being disabled, even for a short time, can quickly snowball into every facet of your life. IOA believes that offering disability insurance to your employees will actually help better ensure a healthy, productive workforce.
Group Disability Insurance
Coverage of an employee group whose members receive a monthly disability income benefit, subject to a maximum amount, if illness or accident prevents a member from performing the normal functions of his or her job. Benefits are usually limited to a stated length of time, and the maximum monthly income benefit is usually no more than 50-60% of earnings prior to the disability, or a flat dollar amount, whichever is less.
Short-Term Disability Insurance
The exact definition of short-term coverage varies from policy to policy. Typically, short term can mean up to six months or even up to a couple of years. Social Security disability coverage usually begins after six months, so some people consider it the definition of short term.
Long-Term Disability Insurance
Long-term coverage begins when the short-term coverage ends. Depending on how long-term coverage is stipulated in the policy, it can continue for a few years until normal retirement age or for the entire life of the insured.
For more information about IOA Group Disability Insurance Benefits, call
(800) 243-6899 or email GroupBenefits@ioausa.com