We live in a period where a lot of attention gets focused on how the use of names and terms can affect society. There is much thought and debate on the naming of structures, schools and streets, sports teams or racial groupings, and sexual orientation. And how to address people with diverse mental and physical health issues if they can even be considered obstacles or challenges? It is part of the societal change, and hopefully progress and improvement, in our efforts to reduce the use of language to be discriminatory and demeaning to some and celebrate less deserving people.
Practical Impacts
Let’s examine some of the terms we use to describe “Disability Insurance” and especially “Long Term Disability Insurance.”
We are aware that the mind is a powerful influence on the body. The placebo effect has been studied and documented for many years. Many believe that it can be a significant factor in the efficacy of many drugs. You may be unaware of the other side of a placebo, known as a Nocebo. Nocebos is harmful because people who believe they’ll experience adverse effects suffer from them due to their beliefs and suggestions.
Can Terminology Such as “Long-Time Disability Insurance” Impact Employee Outcomes?
More than one-third of “Disability insurance” claims are motivated by mental health issues, and almost two-thirds of these claims include a mental health component. Consider someone suffering from mental health issues and the psychological implications of a document informing. They have to get accepted for long-term disability insurance! Please take a moment to put aside any knowledge regarding long-term and short-term disability acquired during your time working in human resources and employee benefits.
For those employed in Employee Benefits or HR, the concepts of Long-Term and Short-Term Disability get often regarded as standard. The main areas where they differ are their approaches to funding, adjudication procedures, collaboration with government initiatives, rehabilitation rigor, etc.
A Final Thought on Terminology
LTD (Long-Term Disability) get typically described as it gets marketed as a “Pooled Benefit.” Still, the reality for most carriers and their small to mid-sized clients is that it’s “pooled” till you begin having claims. After that, it becomes more experienced-rated quickly. There is a possibility there for more transparency upfront.
At Ottawa Life Insurance, we have provided life, health, and group insurance coverage for individuals and businesses in Ottawa. We get dedicated to providing our clients with the protection they require. Contact one of our experts at (613) 454-1424 and email us at info@ottawa-lifeinsurance.ca.
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