Since May is Disability Insurance Awareness Month, it is a good time for employees and employers to evaluate their disability insurance needs. A long-term disability insurance policy is an important option for employees, and can be a great tool for employers to find and retain the best team members in their organization.

Most small companies can’t afford to offer their employees disability insurance, (aka “income protection insurance”), because of the costs. A recent national survey showed employees at smaller businesses are often not satisfied with their disability insurance benefits. Workers at mid-size and large companies, are often offered life and disability insurance benefits with their employment, but small business owners often can’t buy “large group” policies leaving them unable to afford the benefit as part of their employment package.

Many employers are turning to voluntary disability insurance benefits to help compete with their larger counterparts in attracting and retaining talented employees. The fact is, disability insurance is often so expensive that only large companies offer it to their employees, and even that is changing with the tough economic times.