Short Term Disability Insurance

What if you become disabled and can’t work for two or three months. Would you have enough funds tucked into your savings to cover all your living expenses during that time? If not, than it might be reasonable to think about buying short-term disability insurance.

Consider that more than one in four people in their 20s will likely become disabled before retiring, according to the Council for Disability Awareness Also, one in eight workers can expect to be disabled for five years or more before retirement age.

..And keep in mind that a 2015 study by the Pew Charitable Trusts found that only 55 percent of workers have enough savings to replace a month of loss income.

Short term disability can be designed to pay benefits out after as little as one day to two weeks after the date of a disabling injury. In most cases you purchase short term disability through your employer. In many companies, employees must use time-off bank days before requesting short term disability benefits. Some employers carry two types of short term disability coverage: one for on-the-job injuries and ailments and one for sicknesses or injuries that occur outside of the workplace environment.

When an employee is disabled for a longer period than the short term disability coverage term, the insured’s long term disability insurance (if available) or permanent disability takes its place. Again, the long term disability insurance or permanent disability payments could be trigger from 10 weeks to 5 years or even to age 65 benefits are available.

Paying for Short Term Disability Insurance

The short term disability insurance policy may be either an employer or worker-paid benefit. According to the U.S. Bureau of Labor Statistics, more than half of employers defray the costs of short term disability insurance.

Insurance Brokers of MN – Your Minnesota Short Term Disability Insurance Expert

At Insurance Brokers of MN In these Challenging times of retaining good employees and changing benefits plans you need to review your company benefit plans every year. So, complete period. We will then contact you to discuss your needs and provide you with enough viable and affordable short term disability insurance quotes from several top insurance companies.

Contact one of our experienced agents to provide assistance and professional advice in guiding you through the selection process. At Insurance Brokers of MN, Inc. we will discuss your specific needs to fine the best plan at the lowest monthly premium designed just for you.

Complete the Quote Form now or call and let the professionals at Insurance Brokers of MN forge a shield of protection over you.

1-877-323-3314

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