How to Choose from the Best Disability Insurance Companies in New Jersey

With the option to easily privatize New Jersey TDB (temporary disability insurance) without obtaining opt-in from your employees in the form of signatures comes the responsibility of choosing a solid, affordable plan from one of the best disability insurance companies.  

First, remember that any private insurers must be approved by the New Jersey Department of Banking and Insurance and Private Plan Operations. The top-rated carriers that EZTDB works with have all been approved and authorized to provide TDB coverage to New Jersey businesses. 

When it comes to choosing from the best disability insurance companies, ask yourself these questions first: 

How Long Is the Waiting Period to Begin Receiving Disability Income Once a Claim is Filed? 

The state of New Jersey keeps workers with disability claims waiting for up to 30 days before they begin receiving payments. Yet, of course, they expect their premium payments on time from your employer. 

Private plans written by the best disability insurance companies may start issuing payments in as few as five to seven days once a worker’s disability claim is approved. 

Are Flexible Claims Options Available? 

One of the benefits to writing insurance through a private carrier is the choice of whether to receive your payment in the form of a check, debit card, or even direct deposit to your bank account. 

You may also be able to choose the date upon which your disability income arrives. This way, you can maintain your usual pay schedule and mitigate any damage to your household budget. 

Is Your Insurance Carrier or Broker Available if You Have Questions? 

Anyone who has visited the Department of Motor Vehicles knows you don’t always get the best service from state agencies. On the other hand, the best disability insurance companies in New Jersey want your business. They want you to be happy. And they want you to remain a customer for years. After all, that’s how they stay in business. 

Look for an insurance company that provides stellar customer service, answers your questions, and will even help walk you through the claims process. 

EZTDB communicates with our customers via email, phone, or our online chat function on our website, so we can answer your questions in a timely manner in the way that works best for you. 

Do They Use Technology to Simplify Your Life? 

Our top-rated, choice carriers provide online customer dashboards and portals so that you can easily get payment reminders, make payments, and track claims. 

On the other hand, the state of New Jersey has no way for you to review your own or your employees’ benefits online. 

How Much Will It Cost?

By law, private plans must offer benefits of the same duration, or greater, with the same – or more lenient – requirements to qualify, and a price equal to or less than the state plan.

You can save as much to 15 to 20% on your premiums when you write your state-mandated TDB coverage through a private insurer. 

While you shouldn’t necessarily shop based on price alone, the best disability insurance companies all provide stellar service and, in most cases, substantial savings on your disability coverage in New Jersey. 

Plus, by bundling other ancillary benefits with your disability insurance, you can improve employee retention and engagement by giving your workers the benefits they want and need. 

Reach out to EZTDB today to find out how much you could save with a private plan from one of the best disability insurance companies in the state.