美国人力资源管理—福利管理 教学课件7.ppt

* * * * * * *Noelle Baker, Contributing Editor * Chapter 7 Employer-Sponsored Disability Insurance and Life Insurance McGraw-Hill/Irwin Copyright ? 2011 The McGraw-Hill Companies, Inc. All rights reserved. LEARNING OBJECTIVES Disability and life insurance concepts Origins of disability and life insurance programs Short-term and long-term disability Exploration of a variety of different types of life insurance-term, universal life, and accidental life It’s Used More Than You Think! Disability insurance typically applies to work and non work-related illness or accident, whereas worker’s compensation only applies to work-related illness or injury. One out of three employees will experience a disability that lasts over 90 days over the course of their working lives. Employer-sponsored disability insurance is typically provided through a third party insurer who provides a policy for a set premium paid by the employer. The policy stipulates the terms and conditions for disability eligibility and compensation. Types of Disability Insurance Short - Term Less Than 6 Months Inability to Perform Any of Occupation’s Duties Long - Term 6 Months to life Inability to Perform Work Qualified For (Training, Education, Experience) Both short and long term disability insurance may duplicate public disability benefits mandated by the Social Security Act and state worker comp laws. Employer benefits typically supplement mandated benefits, not replace them. Sick leave policies cover minor illness and are funded as a payroll expense. Origins of Disability Insurance Legislation was passed to protect injured workers in an industrialized economy. Examples include the Occupational Safety and Health Act (OSHA), worker’s compensation and Social Security. These public programs were augmented by private plans to ensure adequate compensation for the injured worker. Beginning in the 1960’s and continuing private insurance companies began managing employee injury/disability risk for the emp