Disability

At OTTO, we understand the importance of protecting your financial security and peace of mind. Our Group Disability coverage plan is designed to provide you and your employees with essential benefits and unparalleled value in Canada.

Short-Term Disability

In Canada, short-term disability benefits are typically provided through employer-sponsored plans. When an employee is unable to work due to a non-work-related illness, injury, or medical condition, they can apply for these benefits. Typically, there is a waiting period before benefits kick in, often ranging from 1 to 14 days, during which the employee may use sick days or other forms of paid leave. Once eligible, short-term disability benefits typically replace a portion of the employee’s income, usually around 60-85%, for a defined period, which can vary depending on the policy but often spans from a few weeks to several months. Eligibility criteria and benefit amounts may differ between employers, but these programs aim to provide financial support to employees during temporary periods of incapacity, helping them to manage their living expenses while they recover.

Long-Term Disability

Key Benefits and Value:

1. Income Protection:

• Our LTD coverage ensures that employees continue to receive a portion of their income if they become disabled and unable to work for an extended period.
• Peace of mind knowing that essential expenses, such as mortgage payments, groceries, and medical bills, can be covered even when unable to work.

2. Generous Coverage Period:

• Our policy offers coverage for an extended period, typically until the age of 65, ensuring that your employees are safeguarded throughout their careers.
• Long-term financial security is our commitment to your team.

3. Customizable Plans:

• We understand that one size doesn’t fit all. Our plans are customizable to suit the unique needs of your organization and employees.
• You can tailor benefit amounts and waiting periods to align with your budget and your team’s requirements.

4. Seamless Claims Process:

• We offer a straightforward and compassionate claims process to support employees during difficult times.

5. Tax Advantages:

• In Canada, employer-provided LTD benefits are typically tax-deductible for your business.
• Employees may also benefit from tax-free disability benefits, depending on the structure of the plan.

6. Enhanced Employee Well-being:

• Offering robust LTD coverage demonstrates your commitment to employee well-being, attracting and retaining top talent.
• Healthy employees are productive employees, contributing to the success of your organization.

7. Support for Canadian Workers:

• Our coverage is tailored to the specific needs and regulations of the Canadian workforce.
• We understand the nuances of the Canadian healthcare system and disability laws, ensuring that your employees receive the support they deserve.

8. Cost-Efficient for Employers:

• Our competitive rates and flexible plan options ensure that you can provide valuable LTD coverage without breaking the bank.
• Investing in your employees’ financial security is a smart business decision.

We believe that a comprehensive Disability coverage plan is a crucial component of any employee benefits package. Our customizable, value-driven solutions not only protect your employees’ financial well-being but also enhance your organization’s reputation as an employer of choice. Let us help you create a disability coverage plan that sets your business apart in Canada. Contact us today to learn more about how we can support your team’s financial security.