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Alternative to Group Disability Plan

 

An Alternative to Group Disability Insurance is an arrangement made between an employer and employees to help provide income during a period of disability. Any employer (corporation, partnership or sole proprietorship) may establish a disability program for its employees.

Advantages of an Alternative Group Disability Plan

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Basics of this plan

  • Two or more employees must participate in order to establish a disability plan.
  • The employer is the owner of the disability policies and pays the premium.
  • The premium is tax-deductible for the employer.
  • The premium is not included as an employee benefit in the income of the employees.
  • Disability benefits are paid to the employee and will be taxable.

 

Contact Stewart Financial Services to find out more information regarding Disability Insurance and the protection needed for you, your family and your business.