Colonial Life Enhances Disability Product

Colonial Life said that America's workers have a new affordable way to help protect their families and lifestyles with its newest short-term disability insurance plan.

Disability insurance, already Colonial Life's most-popular product line, provides important financial protection for employees to help protect their incomes should they become sick or hurt and unable to work, the company noted. Those covered by disability insurance can use the monthly benefits to pay for everyday living expenses as well as uncovered medical expenses.

According to a release, key new features of the individual disability product include:

-Coverage available to age 74, important since more workers are staying on the job longer.

-More competitive pricing that keeps coverage affordable.

-More options when coverage starts so employees can limit gaps in financial protection.

-Ability to increase coverage amounts at subsequent enrollments without health questions.

"Few of America's workers are financially prepared for the unexpected," said Steven Johnson, vice president of product development at Colonial Life. "In fact, 66 percent of adults would find it difficult to pay bills if their paychecks were delayed for even one weeki. Our new individual short-term disability plan pays benefits to help employees continue to meet their financial obligations if their paycheck stops, providing a financial safety net many workers desperately need."

The company said that employers also have more options to tailor disability coverage for the needs of their workforce. They can choose to offer plans that cover psychiatric and psychological conditions, and plans that provide disability benefits from the first day of a hospital stay.

The new individual short-term disability product is available now in 31 states, with additional states coming in the future, the company noted.

Colonial Life & Accident Insurance Company is a company providing financial protection benefits through the workplace, including disability, life, accident, dental, cancer, critical illness and hospital confinement indemnity insurance.

More information:

www.coloniallife.com

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