To help you understand what a short term disability insurance quote is and how it works, we’ve compiled a list of some of the basic terms of short term disability insurance.

Disability insurance – a type of insurance that will cover a portion of the worker’s income in the event that he or she experiences an injury that will prevent them from working their work and earn money.

Short term disability insurance – a type of insurance that will cover a portion of the worker’s income in the event that he or she experiences an injury that will prevent them from working their work and earn money for a short period of time – usually anywhere between 1 month and 6 months depending on the policy.

Own occupation – when the insurance policy is own occupation, it means that the worker is unable to work only their own job/a job in their field.

Any occupation – when the insurance policy is any occupation, it means that the worker is unable to work any job at all.

Qualifications – before becoming eligible to receive a short term disability insurance quote, you need to meet certain requirements, known as qualifications.

Benefits – The amount of money the worker will receive from their short term disability insurance quote in case of a disability. It’s usually stated as aa amount of their monthly salary.

Residual benefit – when the policyholder is provided only with part of the total benefits due to a partial disability of the short term disability insurance policy.

Claim – a request for payment under a short term disability insurance policy.

Maximum benefit period – the maximum amount of time when the disabled worker is eligible to receive benefits according to their short term disability quote.

Maximum benefit – the maximum amount of money the worker can receive through their short term disability insurance policy.

Elimination period – the period between the start of the disability and when the benefits start paying.

Insurance provider – the company that is offering the short term disability insurance quote and with whom the worker has signed an insurance policy.

Pre-existing Condition Limitations – conditions that existed before the disability happened that are excluded from the short term disability benefits.

Exclusions – conditions that are not covered by the short term disability insurance policy.

Waiver of premium – if a worker becomes unable to work due to a disability, they don’t need to pay premiums for the period of time when the benefits are paid out to them. Not all policies have waiver of premium