Edulet
Active member
Short term disability insurance is an excellent way to safeguard your income in the event of illness and injury. Each disability insurance plan is designed to cover your loss from illness and injury. However, some forms of coverage are more effective than others. These types of policies have been specifically designed to help you replace your income if you become disabled. If you have an injury or illness that stops you from working, a short term policy can replace your lost income while you recover.
To determine the type of coverage you need, consider the differences between your original payroll and the benefits you receive after a short period of time. If you were receiving long term disability benefits, your benefits would increase over time as long as you remained in the coverage program. Under a short term disability policy, however, your benefits decrease over time. This is due to the fact that you do not receive full benefit payments immediately. Instead, the company adds a percentage to your monthly pay to accommodate the short time frame.
Once you start receiving benefits, there are some things you should keep in mind to ensure maximum benefit protection. One thing to keep in mind is that short term disability benefits are intended to replace only the period of time during which you are unable to work. Therefore, you should not expect coverage to pay you for your entire life. Similarly, you should not expect your coverage to be available for six months or more. In most cases, these types of policies are only available to people who are continuously covered by an employer through at least one month of payroll.
To determine whether or not you qualify for short term disability benefits, you will typically be asked to complete an application. Depending on the company and the plan it provides, you may be required to return for a few additional interviews to determine whether or not you meet the company's requirements. Additionally, some companies typically require potential employees to have certain pre-existing conditions as well.
Some of the things you will typically be asked to prove when applying for short term disability benefits include: current or past medical conditions; current or past employment; age (younger than sixty to older than forty); and citizenship. If you meet one or more of these requirements, your application could likely qualify for the long term disability benefits offered by your employer. However, your company may require that you agree to a certain level of participation in company programs and/or services. If you fail to fulfill the company's requirements, your application for short term disability benefits could be declined.
Finally, keep in mind that even if you ultimately qualify for benefits, you may still need to consult with an independent insurance company. Each individual is unique and your health and medical history may impact how the insurance company determines how much you qualify for and at what rates. This is especially true if your work history is relatively short. A short term disability insurance policy may not be right for your circumstances. So be sure to talk to someone about your options.
Once you start receiving benefits, there are some things you should keep in mind to ensure maximum benefit protection. One thing to keep in mind is that short term disability benefits are intended to replace only the period of time during which you are unable to work. Therefore, you should not expect coverage to pay you for your entire life. Similarly, you should not expect your coverage to be available for six months or more. In most cases, these types of policies are only available to people who are continuously covered by an employer through at least one month of payroll.
To determine whether or not you qualify for short term disability benefits, you will typically be asked to complete an application. Depending on the company and the plan it provides, you may be required to return for a few additional interviews to determine whether or not you meet the company's requirements. Additionally, some companies typically require potential employees to have certain pre-existing conditions as well.
Some of the things you will typically be asked to prove when applying for short term disability benefits include: current or past medical conditions; current or past employment; age (younger than sixty to older than forty); and citizenship. If you meet one or more of these requirements, your application could likely qualify for the long term disability benefits offered by your employer. However, your company may require that you agree to a certain level of participation in company programs and/or services. If you fail to fulfill the company's requirements, your application for short term disability benefits could be declined.
Finally, keep in mind that even if you ultimately qualify for benefits, you may still need to consult with an independent insurance company. Each individual is unique and your health and medical history may impact how the insurance company determines how much you qualify for and at what rates. This is especially true if your work history is relatively short. A short term disability insurance policy may not be right for your circumstances. So be sure to talk to someone about your options.
