Why You Should Be Looking for Employment that Offers Disability Insurance

Most people are well aware of the importance in having insurance for themselves and their families, whether that be health insurance, car insurance, home insurance, or other. However, disability insurance is not as commonly discussed. In fact, you might not even know if you have disability insurance at all, what it does for you, and what the specific terms of your policy are.

Despite that, both short term disability and long term disability insurance are critical to protecting yourself and your family if something happens to you. Because of that, educating yourself on disability insurance and being sure you have the appropriate coverage are crucial steps to take before you ever might need it.

What is disability insurance?

Disability insurance guarantees you and your family some or all of your salary depending on the specific terms of your coverage) should you become disabled and unable to perform your job. Those who can take advantage of their short term disability and long term disability insurance policies aren’t just those who suffer from an accident, but can also include medical issues like back injuries, cancer, or any injury or ailment that can cause you to be unable to perform your job for an extended period of time. While the worker is recovering from the injury or illness, disability insurance is there to keep your household afloat.

The difference between short term disability insurance and long term disability insurance

As with all types of insurance, understanding your different options is critical to ensuring you have the right coverage for you, and the first item to know is whether you are receiving short term disability or long term disability insurance.

• Short term disability insurance policies are for instances where the worker is displaced and unable to work due to their ailment for six months or less.
• Long term disability insurance policies cover workers who need six months or longer to recover enough to return to work.

Why disability insurance is so important

While many people might think they are healthy and safe and wouldn’t actually have a need for disability insurance, you might be surprised to find that just over 25% of today’s 20-year-olds will become disabled in some manner before they retire according to the Council for Disability Awareness. The most important, and obvious, reason that disability insurance is important is to make sure you are covered if you become disabled much earlier than retirement age and are unable to work for the rest of your life. In such an instance, disability insurance will make sure you can pay your bills and support yourself.

While many people develop an emergency fund to make sure they can afford their rent, mortgage, utilities, and groceries should they be unable to work for a period of time, not everyone is in a financial position to save that much, and that is where short term disability insurance has your back.

Further, unless you are very close to retirement age, it is quite unlikely you’ll ever develop an emergency fund that will last you for the rest of what would have been your working years, which is precisely why long term disability insurance is so important.

Why disability insurance through your employer is the best bet

Because disability insurance is such an important safety net for every individual and family, there are several avenues through which disability insurance is offered:

• The Social Security Administration
• Private insurance companies
• Your employer
  

Despite the options, your employer is likely the best place to ensure you are properly covered. The disability benefits from the Social Security Administration are only offered for those who are expected to miss a year or more, so short term disability insurance through your employer kicks in earlier. Not only that, but the disability insurance from the Social Security Administration has a lot of hoops to jump through before you’re eligible and it does not replace much of your income.

Disability insurance through a private company, however, is almost always more expensive than getting the same coverage through your employer. Getting your disability insurance through your employer as opposed to privately through an insurance company also saves you the headaches and stress that comes with negotiating and trying to see through the sales pitch, as your employer has already done that and got a deal on coverage that is likely to save you more in the long run.

Want to find out more?

Schechner Lifson Corporation is an independent insurance agency that can offer your business short term disability and long term disability insurance for all of your employees. With experienced and caring agents, Schechner Lifson Corporation can make sure you and your employees are covered at a price that may just be more affordable than you think. Contact us today to see how we can make sense of the often confusing world of insurance and provide you with the best and most affordable coverage possible.

How Much Do You Know About Group Health Coverage?

Across the United States, just over half of all Americans receive private health insurance coverage through their employer. Because it is so standard, most don’t stop to ask the basic questions, and too many are missing the differences between accepting group health coverage compared with individual coverage. Given that your insurance package is likely the most significant part of your employment package after your total salary, it is important you know what you’re getting.

Group health coverage vs. individual coverage

When you’re discussing a group health insurance plan, you’re talking about a single policy that an employer offers to all eligible employees, and sometimes their dependents.

This type of group health insurance is fundamentally different than individual coverage because individual coverage is a single policy that is issued to a single person or family. Because of this basic difference, the insurance company calculates the risk differently for group health coverage and calculates the risk factors balanced over the entire group as opposed to just with the individual person or family.

Group health coverage also typically helps employers to find a balance between the most affordable plans and the ones that offer the greatest benefits to their employees.

Why should you accept group health coverage as an employee?

Even though your employer offers a group health coverage plan, this does not mean you are

obligated to accept—everyone can choose to buy into Government sponsored insurance,

private insurance of your choosing, or pay the penalty associated with not having insurance under the Affordable Care Act. Given the available options, what benefits does your employer-offered group health coverage afford you?

• The group health insurance plan is simple and easy to understand, and there’s no need to research and evaluate all the individual plan options every year. The jungle of paperwork can be enough to drive you mad.
• As an employee, your contributions paid from your paycheck to your group health insurance premiums are done on a pre-tax basis, giving you lower taxable payroll earnings and keeping more of your paycheck in your pocket.
• By having the same coverage as your coworkers through the group health coverage, employees can develop a sense of camaraderie as everyone is united under the same plan—you can be sure your coworkers are a shared source of knowledge and resources.

Want to find out more?

Schechner Lifson Corporation is an independent insurance agency that can offer group health insurance coverage to small business employers across the United States, with agents who have deep expertise and experience across each sector. By offering group coverage, Schechner Lifson Corporation is able to give employees the freedom of a simple and affordable insurance plan that ensure all employees are satisfied and stress-free when it comes to their health coverage. Contact us today to see how we can make sense of the often confusing world of insurance and provide you with the best and most affordable coverage possible.

Be Prepared No Matter What Matthew Does

There’s a possibility that the fifth Atlantic hurricane of the season might be heading towards New York. Hurricane Matthew is currently a category 4 hurricane and is passing through the Caribbean.

Regardless if it hits us or not there is no time like the present to review your companies disaster plans.

5 Days Before Storm Conditions

• Notify employees of the potential for severe weather and to be prepared for the emergency plan possibly to be implemented.
• Inspect the roof and grounds for loose debris, which may become a hazard in high winds.  If staff or temporary help is available, begin removal of the debris, otherwise the removal may be done at the 72-hour interval.
• Provide a list of storm tips and needed supplies to help your employees prepare their homes and families.
• Ensure all employees have your business’ designated emergency telephone numbers and key contact other information (i.e., employee emergency wallet card).

72 Hours Before Storm Conditions

• If not completed already, remove or secure all loose roof and ground items, including landscaping that may become wind-borne debris.
• Clear roof drains, gutters and downspouts of debris, to prevent water back-up
• Clean out all debris from outdoor perimeter drains, especially in areas where water may collect such as shipping and receiving areas where the ground slopes towards the building.
• Fill emergency generators with fuel and contact fuel suppliers with anticipated needs for post-storm deliveries.
• Ensure fire protection systems are in proper working order.
• Notify key customers, suppliers, and partners of office/facility closing and contingency plans.
• Make decisions on when to excuse employees so that they have sufficient time to prepare their homes and families, and notify employees of office closure details.
• Make any necessary alternative travel arrangements for employees away on business.
• Customize messages for business’ website, telephone recording, employee intranet, etc.
• Instruct employees with laptops to take them home at the end of each day and confirm that they can connect to your business’ server from home.
• Remind employees to make sure their cell phones are fully charged and that they have a power cord and car charger.
• Advise employees to begin checking your employee emergency hotline and/or company intranet/website for updates on the status of your office/facility.

 48 – 24 Hours Before Storm Conditions

• Make sure all employees with calling responsibilities have the most updated version of the company telephone call list and have it in multiple formats (hard copy, electronically, etc.).
• For hurricanes and other high wind events, install window protection; if window protection is unavailable, close all window blinds, and cover office equipment with plastic sheets or tarps.
• Close and lock all office doors, especially perimeter offices.
• If you expect your building to be exposed to flooding or storm surge, seal all water entry points such as utility penetrations into the building and install flood protection including first-floor drain plugs.
• Conduct full/partial shutdown procedures. If volunteers are to remain onsite during the storm, make sure they can remain in a safe and secure area. If conditions permit, instruct them on how to monitor, document, and mitigate against leaks and water infiltration in critical areas with vital equipment.
• Advise employees to check the status of your office/facility at least twice per day.
• Disconnect all electrical equipment and unplug from power source.
• Place a “Closed” notice on office/facility main entrance.

  During & Immediately After The Storm

• Update employee emergency hotline and/or company intranet and company website with postings on the status of your operations.
• Activate the company telephone call list process, in order to contact all employees regarding the status of your office/facility.
• Designate times for key staff members to call into conference calls for situation overviews.

Recovery

• Designated personnel should return to the facility, assess conditions, document damages, and notify the emergency operations teams of their findings.
• When it is deemed safe, designated personnel should begin start-up procedures.
• When all safety and operational concerns are addressed and an “All Clear” is provided, employees can return to work.
• Take an overall inventory, including photos of all damaged property, and report damage and related expenses to your insurance company.
• Employees returning to the building should be instructed to examine their work area, test all office equipment and report findings back to the designated staff contact.
• Notify key customers, suppliers, and partners of office/facility re-opening and any necessary property or operational changes resulting from storm damage.

Stay safe,

Would You Know If You Had A Broken Pipe?

When the temperatures drop below freezing, water inside pipes can freeze and expand. If water expands too much, it can crack the pipe, and also cause an ice blockage which in turns causes water pressure to increase further down the pipe. The damage often goes unnoticed until the weather warms up and the water thaws–causing pipes to burst.

The pipes most at risk are those that are not protected along their entire length by the building insulation or insulation on the actual pipe itself.

Here are some warning signs that you may be dealing with a broken pipe:

Sounds That Can Indicate Broken Pipes

Bubbling Noises: When you flush the toilet or use the sink, air that cannot escape to the sewer lines will create a bubbling noise. This can be a sign that there is a pipe broken, and it should be inspected.

• Whistling Noises: If a pipe gets dented, it can create a segment of pipe that is too small for the volume of water that needs to travel through it and when it does it can emit a whistling sound. If a whistling sound suddenly occurs, it should be checked out, as soon as possible. Increased water pressure on compromised pipes can cause the pipe to burst.
• Banging or Clanking: If loose pipes bump into one another, a clanking noise will be the result. Whether due to loose washers or other worn parts, loose pipes can cause tension that can lead to holes or leaks.

If you hear any of these noises, have your pipes inspected.

Sights & Smells That Can Indicate Broken Pipes

• Unpleasant Odor: If drains, sinks, or any area of your property has an unpleasant odor, especially on the lowest floor, it can be a sign that a pipe is backed up or broken. The odor is a sign that sewage is not being successfully transported from your pipes to the municipal sewer lines.
• Sink Holes: If you have sink holes, or any unexplained soggy or wet areas in your lawn, there may be a break in the main pipes underground.
• Puddles: If water is accumulating anywhere in your property, especially under sinks or on floors, a pipe may be broken. Some may be easy to detect and see, such as pipes under the sink or the water supply to the toilet, but others may be behind walls or ceilings.
• Damp Drywall: If the drywall is damp anywhere in your property, or if there are wet rings on the ceiling, this is a sure indicator of a broken or burst pipe.

If you see or smell anything it is best to have it checked out as quickly as possible.

Other Signs of a Broken Pipe

•  Persistent Clogs: Whether it is a clogged drain or a slow-flushing toilet, any problem that is persistent is an indicator that something is wrong. Broken pipes and blockage are not the only reasons these conditions will exist, but they should not be ruled out.
• Frequent Backups: If basement drains, laundry tubs, or other drains have frequent backups or there are water stains around any of the drains and you have not used them, this can be an indicator that the sewage lines are broken or blocked.
• No Water: If you turn on the faucet, laundry machine, or dishwasher and no water comes out or the pressure is very low, pipes may be frozen, or there may be a broken pipe underground. There are many new technologies to repair underground pipes that have broken without digging them up.
• Poor Water Quality: If the water suddenly turns color or begins to smell, this can be an indicator that the pipes have begun to corrode or otherwise become contaminated or deteriorated.
• High Water Bill: If your water bill is significantly higher than usual without any unusual activity, it may be an indicator of a broken pipe. Physical indicators such as puddles, odors, or damp drywall will usually show themselves first, but in cases when breaks remain undetected, escalated bills can help detect problems.

What To Do If Your Pipes Freeze

• Keep the faucet open. As you treat the frozen pipe and the frozen area begins to melt, water will begin to flow through the frozen area. Running water through the pipe will help melt ice in the pipe.
• Apply heat to the section of pipe using an electric heating pad wrapped around the pipe, an electric hair dryer, a portable space heater (kept away from flammable materials), or by wrapping pipes with towels soaked in hot water. Do not use a blowtorch, kerosene or propane heater, charcoal stove, or other open flame device.
• Apply heat until full water pressure is restored. If you are unable to locate the frozen area, if the frozen area is not accessible, or if you can not thaw the pipe, call a licensed plumber.
• Check all other faucets in your property to find out if you have additional frozen pipes. If one pipe freezes, others may freeze, too.

Addressing problems with the water supply or drainage quickly is important to help prevent mold growth. Preventing problems from occurring or preventing them from getting worse will help keep your property safe and healthy for everyone.

If you need emergency help with property damage call 800.3MAXONS (800.362.9667)

Stay safe