How Much Does Short Term Disability Insurance Cost?

Are you looking to find out how much short term disability insurance costs?

Short-term disability insurance is all about planning ahead.

Consider for a moment if you were injured or become too sick to work and your family’s well-being depended on your paycheck.

Short-term disability insurance provides coverage for a portion of that lost income

In most instances, the policy benefit would be paid to you on a monthly basis to help cover living expenses, food, utilities, etc. for a period of time while you were unable to work.

The Facts

According to the Council for Disability Awareness, on average one out of every four people will become disabled before reaching retirement age and one out of eight workers will become disabled just five years before retirement.

In addition to that, fewer than 55% of adults have enough money set aside to cover a single month’s expenses.

If something were to happen that caused you to miss one or more paychecks would you be prepared financially?

If not, short-term disability insurance may give you peace of mind while helping you prepare for an unfortunate event.

What Is Short Term Disability Insurance?

The purpose of short-term disability insurance is to pay a portion of your salary for a set amount of time in the event you become unable to work because of an extended sickness or an injury.  

With short-term disability insurance you will have the ability to continue providing for your family, sustain your normal lifestyle and help keep your finances stable until you’re well and able to return to work.

Average Cost

Oftentimes short-term disability insurance coverage is available through your employer.

However, if this is not a benefit available to you through work, then electing to have an individual short-term disability policy may be helpful.

The cost of short-term disability insurance varies based on a few different factors.

Some of these include the type of occupation you’re involved in and what your salary is.

In addition to that, the policy cost will also be affected by the current status of your health, your age and gender, as well as the amount of coverage you are seeking.  

Overall, the average cost for coverage will be between $30 and $120 per month.

Overall the portion paid out through a short-term disability insurance policy would be between 40% and 60% of your normal salary, with benefits lasting between three and six months.

As with any insurance policy, there is a maximum benefit amount or cap on the policy, as well as a waiting period after the occurrence, at which point payments would begin.

Here’s Your Next Step…

For more information contact a representative at eSupplemental.com for specific details regarding eligibility, cost and coverage options.

If you would like to get a free fast no obligation quote, simply click here and fill out the brief form.

We work with the top insurance companies and can quickly and easily compare the best rates for you.

It costs nothing extra to work with us than going directly through he insurance company.