Who Really Needs Short Term Disability Insurance and Other Frequently Asked Questions
So, who needs short term disability insurance?
You’ve probably guessed the answer, but here it is – everyone. Even singles with no spouse or dependents can benefit from this protection, as can families and even seniors. In short, anyone with financial obligations and who might find themselves in a dire situation if their income were disrupted for even a short time needs the protection that only short term disability insurance can offer.
When does short term disability insurance kick in?
All insurance companies have a waiting period. It can vary from 14 days to 90 days or more. This is one reason it is important to compare short term disability insurance plans and make an informed decision that fits your needs and your budget.
How long am I covered if I’m temporarily disabled?
Again, this varies with the plan you choose and the insurance provider in question. Some plans offer coverage for a few months, up to a year. Some plans will offer coverage for up to two years.
How much will I see in benefits?
The amount you receive in benefits from short term disability insurance will vary depending on your policy. Most insurers have a monthly maximum payout. In all instances, it will be based on a percentage of your regular earnings.
What will I pay in short term disability insurance rates?
Your premium (the amount you pay per month for short term disability coverage) may change as you grow older, but some insurers provide a level rate until you reach a specific age, often 67 years old.
Why Work with an Agent?
Why should you consider working with an insurance agent to find the right short term disability insurance for your needs? There are many answers. One of those is that a qualified agent will help you compare options from hundreds of insurance providers and thousands of policies available to ensure that you make the right choice. An insurance agent may also be able to offer other benefits, including the ability to secure a lower premium, additional coverage items for a lower price, and more.
At Short-Term-Disability-Insurance.com., we provide expert guidance to ensure that you are able to compare short term disability insurance quotes, insurance coverage, premium amounts and more. Our ultimate goal is to help you make the best choice for your protection, and our agents can also provide assistance with securing specialty plans that include life insurance, long term disability insurance, and short term disability insurance.