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Why Group Disability Insurance Is a Smart Move For
Your Organization
Consider these statistics:
• Three of ten workers between the ages of 25 and 65 will experience
an accident or illness that keeps them out of work for three months or longer.
• 43% of 40 year olds will suffer a disability for at least 90 days prior
to age 65.
• Nearly 60% of injuries happen off the job, thereby voiding worker’s
compensation coverage.
• Half of all personal bankruptcy cases in the U.S. are due to the fallout
from illness and resulting medical indebtedness.
• Social Security pays disability benefits only when your illness or
injury is expected to last at least one year. To qualify for Social Security
Disability Insurance (SSDI) benefits, you must be unable to perform any substantial,
gainful work – and even if you qualify, benefits don’t begin
until after a waiting period of five continuous months.
• Average monthly SSDI benefit is $978.
• 70% of private sector workforce has
no Long Term Disability coverage.
PIAM is offering specially negotiated Group Disability plans to the hospitals,
clinics, and practices of members of the Massachusetts Medical Society. The
plans are uniquely designed for physicians with a definition of disability
that is tied to the inability to practice a specialty occupation. This protects
disabled physicians from being forced back to work in a different, albeit related,
practice capacity. These plans supplement existing personal disability policies
giving you additional income protection should you become disabled. And, depending
on the size of your group, certain benefit amounts may be guaranteed to be
issued regardless of medical history.
If you’d like further information, please contact us at 800-522-7426.
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