Short Term Disability Insurance

Life happens,and sometimes not in the most fun of ways.  If you were disabled and unable to work, do you have a plan for that?

Short Term Disability Insurance is designed to provide income replacement if you are temporarily disabled.

A couple key concepts:

  • Elimination period – most policies require disability to last for a period of time before benefits begin
  • Benefit amount – typically based on a percentage of regular income
  • Benefit period – typically 6 months but could be different
  • Definition of disability – there are options and you need to understand what your policy defines as a disability
  • Waiver of premium – if you become disabled, does your policy waive your premiums while you’re disabled?  Some, probably most, do.

Short Term Disability Insurance can be provided as part of an employer benefits plan or on a standalone (individual)basis.

This isn’t all you need to think about, but it’s a good starting point.  We’d love to talk you more about how Short Term Disability Insurance can fit into your financial plan.  Call us at 717.637.3670 or reach out on our contact form to continue the dialog.