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Small Business Voluntary Short-Term Disability Insurance

If you don’t offer group-sponsored short-term disability insurance coverage, you can instead offer voluntary short-term disability insurance, which protects your small business employees from the loss of income in the event of a short-term illness or injury. Through Consumers Life, COSE offers two options to choose from with varying benefit waiting periods. There is no minimum employee participation requirement. Employees may choose a weekly benefit in increments of 50% up to a maximum of 70% of their basic weekly income not to exceed $500 per week. The minimum weekly benefit available is $100.

1-8-26 Small Business Plan
Benefits are payable on the 1st day of absence due to injury or the 8th day of absence due to illness. The plan continues a portion of an employee’s pay for up to 26 weeks when he or she can’t work because of a non-occupational illness or injury.

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15-15-26 Small Business Plan
Benefits are payable on the 15th day of absence due to injury and 15th day for illness. The plan continues a portion of an employee’s pay for up to 26 weeks when he or she can not work due to a non-occupational injury or illness.

View and print detailed coverage information 

 

Pre-existing Condition Exclusion
A 12/12 pre-existing condition exclusion applies to both voluntary short-term disability plans. A total disability or a partial disability that begins in the 12-month period after the employee’s effective date and is caused by, contributed to or results from a pre-existing condition is not covered. A pre-existing condition is a sickness or injury for which the employee, within the 12-month period prior to his or her effective date of coverage, received medical treatment, consultation, care or other services, including diagnostic measures, or had taken prescribed drugs or medicines. Increases in benefit amounts elected at a later date are subject to this pre-existing condition exclusion. Voluntary STD Coverage Rates

Employer Groups with 1-150 employees / per $10 of benefits

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