Accidents happen everyday, everywhere. At school, at home, on vacation, on the basketball court, driving, biking, and, especially, at work. Work place accidents occur every single day. While there might be a lot of safety measures in place at your work at that doesn't mean accidents don't happen there. We can put in all the preventative safety measures possible to prevent workplace accidents but there will still be some occurrences where they still happen. There's nothing we can do about them other than pray they don't happen or aren't too severe when they do.
One way you can protect yourself in case you do happen to have an accident, no matter how severe, is to get yourself some long-term disability insurance coverage. Long-term disability insurance coverage is an excellent thing to have just in case you are seriously injured on the job or become so sick that you have to take an extended amount of time off work. You're working for a reason, which is to pay for the high costs of living we have such as grocery bills and rent or mortgages, and you can't afford to not be working.
Unfortunately when accidents or illness happen and you can't work you're stuck trying to figure out a way to pay your bills as you watch your steady income decline from what it once was. If you're unable to be covered under government benefit programs like Employment Insurance or Workers Compensation then long-term disability insurance is the way to go. You don't want to plan for an accident to occur while on the job but it's a good thing to be prepared just in case an accident occurs.
You can apply for short-term disability insurance that will cover you from the first day off work up to 120 days after and combine that with long-term disability insurance which will cover you from that 120th day off work and onward. Having both types of disability insurance will ensure that you are never longing for money while off the job.
Long-term disability insurances will pay you while you're away from work as if you were still at work. It doesn't matter whether you're away from work due to illness or because you got injured. Of course you will only get paid if you make sure to pay your premiums on a monthly basis. Most long-term disability insurance policies will keep paying you as long as you're injured, even if your injury becomes a permanent one and you never go back to work.
Having a safe work place is everyone's responsibility, and ensuring that your employees work together towards this goal should be a priority. It is important to get all of your staff on board towards making your company a safe and enjoyable place to work, including making all the appropriate safety equipment available, and insisting that it be used each and every time. You can see some fine examples of workplace safety products at IronguardSafety.com. The ultimate goal should be eliminating the need for any disability payments.
Where can you go for more information? Try -
Insurance Direct Canada
Great West Life
Sun Life Financial