Firefighting is a dangerous profession. Although firefighters are brave and highly skilled individuals who willingly risk their lives to protect others, they are not immune to accidents or injuries. When a firefighter is injured and can no longer work, it can be difficult for the department to cover their medical expenses and lost income. As a fire department, it’s important to understand the differences between short and long-term insurance coverage, so you can make an informed decision about what’s best for your department.
What is Short Term Disability Insurance?
Short-term disability insurance is designed to protect your employees if they are unable to work due to a temporary illness or injury. This type of insurance provides benefits for a specific period, usually six months or less. Short-term disability insurance can help your employees cover their living expenses and medical bills while they are out of work. Some illnesses and injuries a short-term disability policy may cover include broken bones, cancer, pregnancy complications, and heart attacks. Most short-term disability policies have a waiting period of 7 to 14 days before benefits begin.
What is Long Term Disability Insurance?
Long-term disability insurance protects your employees if they are unable to work due to a long-term illness or injury. This type of insurance provides benefits for an extended period, usually two years or more. Long-term disability insurance can help your employee cover their living expenses and medical bills while they are out of work. A long-term disability policy may cover some illnesses and injuries, including back problems, multiple sclerosis, Parkinson’s disease, and stroke. Most long-term disability policies have a waiting period of 90 days before benefits begin. In addition, some policies also cover the costs of rehabilitative care and retraining. For firefighters with families, these policies can provide peace of mind knowing their loved ones will be taken care of financially if something happens to them.
Key Considerations in Adopting Short and Long-Term Insurance
As a fire department leader, you should consider a few key factors when deciding which type of disability insurance to offer your department. First, you need to determine what kinds of disabilities are covered by the policy. For example, some policies may only cover work-related injuries, while others may cover any type of disability. Second, you need to decide how much coverage to provide. This will depend on the average salary of firefighters in your department and the cost of living in the area. Finally, you need to evaluate whether to offer short-term or long-term disability coverage. Short-term coverage is typically less expensive but only covers disabilities that last for a certain period of time. In contrast, long-term coverage is more expensive but covers disabilities lasting for an extended period of time. By considering these factors, you can choose the best type of disability insurance for your fire department.
Employee Retention Benefits (ERB) is the leading provider of employers’ short- and long-term disability insurance. We have decades of experience in the industry and relationships with over 120 carriers, which allows us to provide the best possible coverage for our clients. Our disability insurance policies are designed to protect your employees in the event of an injury or illness preventing them from working. We offer a variety of plan options to suit your needs. Contact us today to learn more about our services and how they can help enhance your brand as a fire department.