To offer benefits to employees

Aflac has modified its group short-term disability (GSTD) policy, allowing businesses to offer benefits to employees, at no direct cost to the company.

Aflac’s GSTD provides the monthly benefit plan that has been increased to a maximum of $3,000 for those who qualify, subject to certain requirements.

It also offers credit for pre-existing conditions in which if the GSTD policy replaces other group short-term disability coverage, the employees receive credit towards Aflac’s pre-existing conditions limitation clause. This is based on the number of months the previous policy was in place for similar benefit amounts.

It also provides low participation requirement in which the participation requirement is 30%, based on a minimum of 100 employees. The employees have the option to obtain an individually-owned short-term disability insurance policy if they change employers, subject to certain requirements.

Aflac’s GSTD policy is an effective way to provide income protection to employees through cash benefits if they’re unable to work due to a covered illness or off-the-job injury, and helps to attract and retain a productive workforce.

Karen Riedel, second vice president, director of Aflac Product Marketing, said: Today’s rising health care costs and slowing economic growth have made it increasingly difficult for employers to offer strong employee benefits packages. In response to this, Aflac has revised its GSTD policy to allow employers to improve their breadth of benefit offerings with no additional impact to their bottom lines, while helping to bring much-needed peace of mind to their valuable employees.