Income Protection

At thorntonpowell, our goal is to continually provide you with the resources needed for your business to flourish.

From time to time we reach out to our clients to help ensure we keep you and your business both successful and protected.  After reviewing your account, we have found you may be missing an important and commonly overlooked benefit, Income Protection.  This benefit can be paramount not only to your success, but also your employee’s wellbeing.

In fact, MetLife recently shared the following: it is estimated that for each disability claim, it costs the employer $25-$30K of lost productivity. This cost is made up of having to hire someone or have someone else do their work, train that person, and pay more money for the extra work they are doing.

Income protection would not only help in solving this issue but keep you from having to make that moral decision on how an employee will provide for their family should they become ill or have an accident that prevents them from earning an income.

According to the Council for Disability Awareness, the most common reasons for short-term disability (six months or less) claims are as follows. It is also important to note that the vast majority of these are not covered by work comp policies either. 

 ·         Pregnancies (22.6%)

 ·         Musculoskeletal disorders affecting the back and spine, knees, hips, shoulders, and other parts of the body (19.3%)

 ·         Injuries such as fractures, sprains, and strains of muscles and ligaments (11.5%)

 ·         Digestive disorders, such as hernias and gastritis (7.6%)

 ·         Mental health issues including depression and anxiety (7.1%)

We are partnered with multiple carriers that offer these programs. Please reach out to your benefits consultant here at thorntonpowell to review how this value add will positively impact your employees by providing them piece of mind and financial resources to recover quickly and return to work. It is also one of the least expensive employee benefits as well!

We look forward to working together to cover this risk for your business and eliminate this worry from your day-to-day operations should a key employee become disabled.