Short Term Disability Insurance Covers A Few More Scenarios Than You Might Realize

By Author: John Cory
Total Articles: 654
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There are an astonishingly large number of people who are under the misunderstanding that short term disability insurance is about replacement income that only becomes accessible after the occurrence of an accident which prevents someone from temporarily reporting back to work. It's certainly not wrong to say that this type of short term insurance can be used to pay for necessary living expenses while recovering from accidents but it's totally untrue that it comes into play only when you've had an accident. It was intended for both accidents and illnesses and what's more the illnesses that can cause the start of short term insurance include more than what we commonly think of. Certainly illnesses like cancer and heart attack are covered but what's surprising to a lot of people is that pregnancy and some of its possible procedures and conditions are also listed as covered illnesses.

Short term disability insurance was created to provide income relief for those persons who without warning and unexpectedly found themselves temporarily incapable of working due to illnesses and accidents. You can rely on your insurance ...
... income to pay personal bills like your rent and car payment when you have no money from your job coming in. Unfortunately, many people ignore the opportunity of safeguarding their financial future with this type of insurance. Instead, they gamble that they won't get sick or have a mishap and therefore won't need it but completely forget or don't know that pregnancy is a legitimate covered illness. But if you're a couple planning to start or increase a family it's probably best not to dismiss the benefits of this type of insurance as the price of a very normal pregnancy can be more costly than yearly insurance premiums by several times over. In addition, there are quite a few complications that could occur that are also covered as qualifying illnesses during a typical pregnancy.

Like all insurance policies available, there are a good number of short term disability insurance plans to choose from. Three of the more popular are group, individual and one that lies between the two called a voluntary policy. As you might suspect each differs principally in the benefits offered, the cost to have those benefits and the eligibility requirements for obtaining them. Another defining feature is that these plans are either available as employer sponsored programs to their employees or to self-employed persons who own and operate their own businesses.

Group insurance policies are primarily offered by employers with many employees and the main advantages is that they are less expensive and easier to be eligible for due to the large number of people participating in the insurance pool. Individual coverage is the next best alternative when there is no group coverage available but costs, attainability and benefits are often limited thus making this type of coverage less attractive for many people. The most recent form of individual insurance to come to the attention of consumers has been termed voluntary plans and has been variously named Flexible or Medical or Health Savings Accounts. These cafeteria plans as they are also called are voluntary contributions of tax free money from an employee's income into a plan which then can be used to pay for medical expenses without incurring any type of tax liability on the money withdrawn from the accounts as long as it was spent on legitimate medical expenses. This is a form of coverage that is gaining in popularity due to the ease of administering them and their ease of portability for employees who switch jobs.

Should you and your spouse be considering starting a family and do not have maternity health insurance, be alert to the fact that it is a covered condition that can qualify you for short term disability insurance. Childbirth and many related complications are covered and the options for obtaining this type of insurance are more easily available to a wider range of women.
No need to seek deeper as you can click on Short Term Disability Insurance or Maternity Health Insurance. Special greetings to Robert C. Keevers for all the help in the fulfillment of this Article.