美国人力资源管理—福利管理教学7.pptxVIP

Chapter 7Employer-Sponsored Disability Insurance and Life Insurance McGraw-Hill/IrwinCopyright ? 2011 The McGraw-Hill Companies, Inc. All rights reserved.LEARNING OBJECTIVESDisability and life insurance conceptsOrigins of disability and life insurance programsShort-term and long-term disabilityExploration of a variety of different types of life insurance-term, universal life, and accidental lifeNoelle Baker, Contributing Editor7-It’s Used More Than You Think!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.Noelle Baker, Contributing Editor7-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.Types of Disability InsuranceBoth 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.Noelle Baker, Contributing Editor7-Short - TermLess Than 6 MonthsInability to Perform Any of Occupation’s DutiesLong - Term6 Months to lifeInability to Perform Work Qualified For (Training, Education, Experience)Origins of Disability InsuranceNoelle Baker, Contributing Editor7-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 com