Short-Term Disability Insurance
Short-term disability insurance is a policy that is designed to protect your income in case of an accident or an illness for a short period of time. Typically, these policies last anywhere from 3 to 6 months and have a waiting/elimination period of 7 to 14 days before the policy starts to pay. Some policies can be designed to have no waiting period at all. Once an event is triggered and your elimination period is met the policy pays you weekly up to the conditions of the policy. Ideally, these policies replace 60% of your income and can help protect you against financial hardship.
Short-term disability insurance and employee benefits can be purchased in a group setting through your employer or purchased as a standalone individual policy. Group plans can either be paid for by the employer in part or full, or can be voluntary, and paid by the employee.
Why should you purchase disability insurance?
One in four people will experience an injury or illness related disability lasting 90 days or more before the age of 67. One in 8 workers will become disabled for five years or more during their lifetime. About 12% of the populations is considered disabled which effects about 40 million Americans.
This is why these policies are often combined with Long Term disability.
It is important to note that we never charge you for using our services, our commission for assisting you comes from the insurance companies. We act as a broker and run quotes with all of the major carriers guaranteeing you the best rate for the benefits that best suit your needs as an employer.
WHAT ARE SOME EXAMPLES OF WHEN A SHORT-TERM DISABILITY POLICY COULD BE USED:
- Maternity Leave/C Sections/Complicated Pregnancies
- An accident or injury that prevents you from going to work.
- Surgery/Recovering from surgery
- Long Term Covid
