Colonial Life Disability Insurance: What You Need To Know

Colonial Life offers disability insurance to provide financial protection for employees who are unable to work due to illness or injury. This insurance can help to cover everyday expenses and maintain employees' lifestyles while they are unable to earn an income. Colonial Life's disability insurance is designed to provide peace of mind and income protection, allowing employees to focus on recovery and success rather than worrying about financial strain. The company has served America's workers for over 75 years and offers a range of benefits, including disability insurance, life insurance, accident insurance, and more.

Income protection in times of need

Colonial Life's disability insurance provides income protection and peace of mind for those unexpected moments in life. If an accident or illness prevents you from working, disability insurance can help cover your everyday expenses, so you can focus on your health and recovery.

Disability insurance is designed to protect your income, which is what pays your bills. Without a steady income, it can be challenging to keep up with expenses, causing financial strain and anxiety. Colonial Life's disability insurance offers financial support for up to two years, allowing you to concentrate on recovery and returning to work.

The insurance covers a range of common illnesses and conditions, including pregnancy and childbirth, back and joint disorders, accidents and fractures, and heart attacks and strokes. It provides flexibility, allowing you to choose the appropriate benefit amount and customize your disability benefit amount and elimination period to meet your specific needs.

Colonial Life's disability insurance is payable on a monthly basis directly to you and can be used for various expenses, such as rent, house payments, car payments, utilities, credit card bills, and travel expenses. Some policies are portable, meaning you can keep your coverage even if you change jobs.

Additionally, Colonial Life offers short-term disability benefits, which complement state Paid Medical Leave (PML) programs. While PML programs provide support, they may not offer sufficient coverage for employees who are unable to work for extended periods. Colonial Life's disability insurance fills this gap, ensuring you receive the financial assistance you need during challenging times.

With Colonial Life disability insurance, you can protect your livelihood and maintain your lifestyle, ensuring that unexpected illnesses or accidents don't derail your financial stability.

Pregnancy and childbirth coverage

Colonial Life's disability insurance provides income protection for individuals who are unable to work due to pregnancy or childbirth. This includes situations like maternity leave, where new parents require time off work to care for their newborn child. By offering financial support, Colonial Life helps ease the financial burden of everyday expenses, allowing individuals to focus on their health, recovery, and new addition to the family.

In addition to maternity leave, Colonial Life's disability insurance also covers pregnancy complications. If an individual experiences a pregnancy-related illness or condition, such as pre-eclampsia or gestational diabetes, they can receive benefits to help cover their expenses during this challenging time. It's important to note that the coverage for pregnancy complications is typically provided they are not pre-existing conditions, and may vary depending on the state's policies regarding the "Giving Birth" exclusion.

The amount of income protection provided by Colonial Life's disability insurance depends on the specific plan chosen. Typically, disability insurance can replace anywhere from 40% to 70% of an individual's income, with a common recommendation to cover at least 60% of their after-tax income. The length of time that benefits are paid out may also vary depending on the policy, so it is essential to carefully review the details of the plan.

Colonial Life's disability insurance offers flexibility, allowing individuals to customise their benefit amount and elimination period to meet their unique needs. Additionally, some policies are portable, meaning individuals can retain their coverage even if they change jobs. This feature ensures that expectant mothers can feel secure knowing their income protection will continue even if they switch employers during or after pregnancy.

To summarise, Colonial Life's disability insurance provides valuable coverage for pregnancy and childbirth situations, including maternity leave and pregnancy complications. By offering income protection and flexibility, Colonial Life helps individuals navigate the financial challenges that come with starting or expanding a family. Expectant parents can rest assured that they will have the financial support they need to focus on their health, recovery, and new bundle of joy.

Partial disability coverage

Colonial Life's disability insurance provides peace of mind for employees and employers alike. It helps employees safeguard their income in the event of a disability, ensuring they can maintain their livelihood and lifestyle. It also helps employers attract and retain skilled workers, boosting employee satisfaction and productivity.

Colonial Life's disability insurance covers partial disabilities. However, to qualify for partial disability benefits, the insured employee must first qualify for and receive a certain amount of total disability benefits. The amount of total disability benefits required to be received first varies by policy, so it is important to consult with a Colonial Life representative to understand the specifics of your plan.

Colonial Life's disability insurance offers flexibility to meet the diverse needs of employees. Employees can customise their disability benefit amount and elimination period, choosing an option that best suits their circumstances. Additionally, some policies are portable, allowing employees to retain their coverage even if they change jobs.

By providing partial disability coverage, Colonial Life's disability insurance helps protect employees' financial well-being and security during challenging times. It empowers them to maintain their standard of living and focus on their recovery, demonstrating Colonial Life's commitment to supporting individuals through life's unexpected moments.

Short-term disability benefits

Colonial Life's short-term disability insurance provides financial support and peace of mind for employees who are unable to work due to illness or injury. This income protection ensures employees can maintain their livelihood and lifestyle by covering everyday expenses during their recovery.

Colonial Life's short-term disability benefits offer:

• Monthly payments for up to two years, which can be used for any purpose, including rent, house payments, utilities, and travel expenses.
• Customizable benefit amounts to meet individual needs.
• Optional provisions for psychiatric and psychological conditions and hospital admission.
• Portability, allowing employees to keep their coverage if they change jobs.
• Potential availability for those returning to work part-time.

Colonial Life's short-term disability insurance complements state Paid Medical Leave (PML) programs, which may have limitations in coverage duration and amount. By choosing an elimination period, or waiting period before benefits begin, employees can tailor their plan to their needs.

Short-term disability insurance is a valuable component of a comprehensive benefits package, helping employers attract and retain skilled workers without incurring additional expenses. It also reduces administrative burdens and saves time and money for employers by streamlining leave management and benefit coordination for disabled employees.

Customising disability benefit amount

Colonial Life's disability insurance offers employees financial protection in the form of short-term disability benefits. This insurance can provide income protection and peace of mind, helping to maintain the policyholder's livelihood and lifestyle.

When customising the disability benefit amount, it is recommended to have enough coverage to replace around 60% of your after-tax income. However, this percentage can vary based on individual circumstances, such as monthly living expenses.

Colonial Life allows policyholders to customise their benefit amount to meet their specific needs. The benefit amount chosen will be payable on a monthly basis directly to the policyholder, unless specified otherwise. This benefit amount can be used for various expenses, including rent, house payments, car payments, utilities, credit card bills, travel expenses, and more.

Additionally, Colonial Life's disability insurance offers optional provisions to cover psychiatric and psychological conditions and hospital admission. Policyholders can also choose an elimination period, which is the waiting period between the date a physician determines their inability to work and the date their benefits commence. A longer elimination period typically results in a lower premium.

Colonial Life's disability insurance provides flexibility and peace of mind, ensuring that policyholders can maintain their financial stability during difficult times.

Frequently asked questions