Whether you’re the owner or an employee at a company, you likely know or at least have heard about short term disability insurance. This type of insurance policy is that which employees rely upon when they become sick or injured and are unable to work. Just imagine what you would do if an illness or injury meant you couldn’t perform your job and had to stay home for anywhere from one day to about 4 months. Would you have the savings necessary to see you through? Would you be able to support your household without your regular stream of income? For most residents of the U.S., it would be impossible or at least very difficult for them to subsist without their source of income.
This is precisely why most work places have a short term disability insurance plan in place for their employees. While in most instances an employer will pay for this coverage for their employees, in some cases the employees will be forced to pay for their income protection. In many workplace contracts, it will state that an employee must use all of their sick days before making a claim under their disability policy. These plans will pay the employee a percentage of their usual pay or salary, which will typically begin anywhere from one to two weeks after they’re forced to stop working.
There are also typically conditions that stipulate how long it is that a person must work for their employer before they can make a short term disability claim, and it’s usually only an option that’s available to full-time employees. If a person’s illness or disability keeps them from working for more than 120 days, this is when a long term disability insurance plan will take over.
Short term disability insurance, like other insurance policies such as term life insurance, provides the protection you need when you’re unable to provide it for yourself. To learn more about how this type of policy can protect you too, contact us at TermLife-Insurance.com. We’re ready and waiting to answer your questions and help you find the policy you’re looking for. Visit us today.