The way the policy works is the insured will receive a percentage of the amount of money they would have earned had they been working. This percentage can range anywhere from 50 to 60 per cent. The types of conditions that can be used in a short-term disability insurance claim will vary depending on the insurance provider, but even maternity cases are covered by most companies.
You may not think that short-term disability coverage is something that you need, but accidents and illnesses that cause people to take time off from work are more common than you might think. In fact, on average, three out of every 10 Americans will become disabled in some way, for some length of time, at some point before they retire. When these types of plans are so affordable, it’s worth considering this insurance coverage.
Those interested in purchasing this type of insurance coverage can likely do so through their workplace or by contacting an insurance broker. For a relatively affordable price, you could ensure you have the financial protection you need should you find yourself in a position where you’re unable to work.