8 Things You Should Know About the Short Term Disability Insurance

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It may be one of your pet peeves to talk about disability insurance, especially short-term disability insurance. But if you don’t give it a serious thought, you may have to face long term financial risks because of unexpected injuries and illnesses. In this article, we are going to answer some common questions about short term disability insurance.

1. If you have a family to take care of

If you are a parent or you live alone, you need short term disability insurance. Also, you won’t get social security benefits if you will go out-of-work period is less than 12 months. If you go out of work for a year or more, you will end up spending all your savings. And this may have a negative impact on your financial health.

2. Income replacement

If you fall get an injury or fall sick, you can use your short term disability insurance to pay your expenses like food, utility bills, home loan payments, car payments, and school tuition.

3. illness-related disabilities

Although some types of disabilities happen due to accidents, most long-term disabilities are a result of illnesses.

4. Chance of disability

Unfortunately, at least 20% of 20-year-olds suffer some form of disability before they are 60 years old. Apart from this, it’s a lot easier and inexpensive to get and pay for disability insurance at a young age.

5. The risk of a disability

You are at a great risk of injury or illness when you are engaged in a job involving physical activities. So, it makes sense to get disability insurance as it will help get an alternative source of income during your disability period.

6. Protection of your after-tax income

During your disability period, you have to pay for your essential expenses. Around 70% of your expenses will consist of education, health care, transportation, food, and housing. So, short term disability insurance can help you get at least 60% of your income.

7. Some disability insurance is always better

If you are on a tight budget, you may still want to buy disability insurance. The reason is that it will help you make your mortgage payments. It’s a common misconception that disability insurance costs a good deal of money. In fact, it’s quite affordable for most buyers. For instance, some insurance policies cost less than $25 per month.

8. Group insurance

Find out if your employee benefits package offers disability coverage. This is important as group benefits may not be enough to cover your routine expenses when you are not able to work.

Long story short, these are just some of the reasons why you should go for a short-term disability insurance policy. Before you get a policy, make sure you do your research as each policy is a little different. So, it’s important that you go through the specifics before making your final decision. Contact to Instant Disability if you want to get free disability insurance quotes instantly.

Dani Khan CEO at blogsFit. Have 1 year of experience in the websites field. Uneeb Khan is the premier and most trustworthy informer for technology, telecom, business, auto news, games review in World. https://blogsfit.com/