Personal Short Term Disability Insurance

The sudden loss of a regular paycheck can soon send your life spiraling out of control. Many people are living from week to week, and even a week or two without pay can cause severe hardship

Even if you do have savings, dipping into your long-term financial solutions to get you by in the short term isn’t an ideal solution.

Short term disability insurance can support your lifestyle by replacing a portion of your income during the first few weeks of your disability while leaving your savings intact.

Protecting your finances during a temporary disability is important, but it’s not always easy to find the right insurance solution.

Short-Term Disability Insurance Cost

Short-term disability costs can vary a great deal depending on the policy you choose and the features you include. Insurance providers will also apply a profile to your case, which may also affect the premiums.

Because there is so much variation in cost, you will need to carefully assess your policy and ensure that it is going to provide enough value when you need it.

While configuring the features you need in your policy, three of the most significant factors affecting the price include:

*   The monthly payout – Calculates the value of the payout for each period during the length of your disability.

*  Elimination Period – Determines the length of time you must be disabled before the policy takes effect.  

*   Benefit Period – Refers to the amount of time you will be able to claim payments while you are unfit for duty at your full-time occupation.

Types of Coverage

There are two different types of short-term disability coverage which include:

* A private plan that is not covered by your employer, and

* A personal policy accessed through your employer.

Private short-term disability insurance policies are acquired by dealing directly with the insurance provider and are unrelated to your employer. The usual route to access these policies is to go through a broker or independent agent.

The main advantage of a private policy is that you maintain complete control over your coverage when choosing the benefits. You will also gain access to a bigger pool of providers for price shopping.

Pregnancy with Short-Term Disability Insurance

You can receive cover for pregnancy with short-term disability insurance, but every provider will consider pregnancy as a pre-existing condition.  This requirement means coverage will be off the table if you are already pregnant.

One option includes cover for pregnancy complications which cause you to miss work and pregnancy disabilities which can last for 6-months or more.

All women will need time off work during childbirth, so including this condition into your policy makes a lot of sense. Private plans purchased outside of your employment will not cover childbirth recovery.

Here’s Your Next Step…

Do you want to easily compare all of the top insurance companies to find the best policy and premium for your situation….and not have to pay anything extra to do so?

eSupplemental.com can do just that.  We are able to shop around the top insurance providers and find the best plan that works for you.

You can easily make a decision on which plan works best for you.  Simply click here to begin the process of comparing the top short term disability insurance policies.