NJ TDB: Temporary Disability Benefits In New Jersey
New Jersey Temporary Disability Insurance is the state’s short-term disability benefits plan, providing leave insurance for New Jersey workers who are temporarily ill or injured off the job.
Did you know that 98 percent of NJ TDB policies are held by the state and not a private plan? With such a wide open market ready to hear the benefits of privatized short term disability benefits, New Jersey brokers have tremendous opportunities to convert their customers and earn more commissions with a product that represents an easy renewal every year. And with DBL Center serving as your back-end office to do the legwork, it’s practically passive income for your brokerage.
And with DBL Center serving as your back-end office to do the legwork, it’s practically passive income for your brokerage.
Understand The Possibilities With Privatized NJ TDB
State of New Jersey disability benefits are mandated by the state government but can be purchased through the state or private insurance carriers. What’s the difference? Buying through a private carrier, especially if you’re a broker working with an insurance wholesaler like The DBL Center, will offer a whole new level of personalized service, expert care, enhanced benefits and multi-line discounts on other employee benefits packages for your customers. NJ TDB offers many benefits that state-funded plans do not, including faster payouts, better service, and a choice of direct deposit or a debit card to receive NJ temporary disability benefits.
You Can’t Lose with Privatized NJ TDB
It’s important to understand that, by law, private TDB plans in New Jersey must be equal to or greater than state-funded benefit amounts. The duration of payments must have the same, or more lenient, eligibility requirements as the NJ TDB state plan. Private TDB carriers must also offer the same rates as the state of New Jersey, or even better. The New Jersey state insurance fund that handles NJ temporary disability claims often takes as long as four weeks from the date of filing to begin paying employees who filed for temporary disability. For employees without emergency savings, an illness, injury or birth of a child could put them into debt, using credit cards or loans to cover living expenses. Your customers should know that this can hurt retention rates and morale within their organization. There is a lot for NJ insurance brokers to offer their customers with a privatized NJ TDB policy, including the ability to bundle coverage packages for lower rates.
The Service You Deserve for NJ TDB and More
At The DBL Center, we service insurance brokerages with customers writing policies with as few as one life, and as many as thousands. Yet we treat every insurance agent with the same care and attention.
Best of all, we minimize the paperwork and we maintain and manage your policies. You retain full ownership and cash your commission checks direct from the carrier – so you can focus on your business goals.
When you’re free to focus on sales, and have a variety of ancillary products to offer, you’ll sell more policies and earn more commission faster. At The DBL Center we make it easy for New Jersey disability insurance agents to sell privatized NJ TDB policies, offer bundled packages that include NJ TDB and ancillary benefits, and create happier customers.
Flexible NJ TDB Options
Give your customers choices in New Jersey disability benefits, with payouts faster than the one-week minimum offered through the state, flexible income options to mirror the company’s regular pay periods and payments by direct deposit or debit card. Flexible options and fast payouts help employees continue to maintain the same lifestyle they enjoyed before they filed for disability insurance.
Understand the Possibilities with Privatized NJ TDB
New Jersey Temporary Disability Benefits Are Just the Beginning
At the DBL Center, our choices in NJ TDB are second-to-none, through an elite group of select insurance carriers that provide the best rates and exemplary service. But we also offer long term disability insurance, group life AD&D insurance, vision and dental benefits, with discounts offered when your customers enhance their employee benefits package through your insurance agency and you buy through The DBL Center.
You’ll enjoy the same white-glove service we provide with our disability insurance benefits plans, while we manage and maintain your customers’ policies so you’ll earn more commission and expand your book of business in the time you save.
How Temporary Disability Insurance Differs from Family Leave Insurance
Temporary disability insurance only covers injuries or illnesses incurred off the job. Temporary disability insurance lasts for a duration of up to 26 weeks.
Keep in mind that temporary disability insurance does not cover a family member who may need care. Family leave insurance in New Jersey covers workers caring for ill, aging, or disabled family members, as well as newborns within the first year of life. It also provides paid leave for military family members whose spouses are deployed and for victims of domestic violence.
New birthing parents may use temporary disability insurance and FLI and consecutively to extend their leave. Temporary disability can cover the time period during which they heal from childbirth. FLI can provide partial income replacement at any time in the child’s first year of life.
New Jersey workers who find themselves permanently disabled after TDI insurance runs out may consider applying for Social Security disability insurance. Social Security disability provides life-long benefits for those with a variety of medical conditions. Those who qualify can also combine Social Security disability benefits with an LTD plan to increase income.
Business owners who plan ahead to provide a comprehensive benefit package that includes LTD will appreciate the services of DBL Center brokers to steer them in the right direction and get the most bang for their buck.
Compare NJ TDB packages with The DBL Center Ltd.
The Push to Privatize NJ TDB
One of the stumbling blocks to convincing business owners and HR directors in New Jersey to switch to privatized temporary disability has been the signature requirement. The state of New Jersey mandates that employers must be signatures from 50% + 1 of the employees in a company before privatizing their NJ TDB plans. This is a lot of extra work for busy business owners and HR teams with bigger concerns. And it’s not something a broker can do for their customers. But there’s hope. New Jersey state legislators are considering waiving the signature requirement for businesses to switch their NJ TDB policies to a private carriers. The burden is on the insurance industry in New Jersey to push for this positive change. The DBL Center is on your side, and we are offering resources to help. Check out our new NJ TDB Resource Center below to see how you can advocate for change and take advantage of the vast possibilities for privatized TDB coverage.
Check our NJ TDB Resource Center For more Details
Learn more about NJ TDB and how you can earn more while providing your customers with a policy that is equal or better to their state-funded New Jersey temporary disability plan.