An unfortunate thing about life is that you never really know what's coming next. However, it doesn't mean you can't be prepared. Whether it's an injury, childbirth, or some other medical situation, if you find that you are unable to work for some time, the ability to rely on short-term disability insurance can be especially helpful.
1. Regular Payments
With a successful claim against your short-term disability insurance, you can gain the benefit of regular payments. Depending on the type of policy you have and the duration of your loss of income and recovery, you can receive payments every month or even weekly to somewhat mimic the schedule by which you were paid while you were working. Regular payments are especially helpful. The representative that helps you with your short-term disability insurance quote will be able to tell you how payments are issued for the specific policy you're researching.
2. Maintain Household
When you are injured, it does not stop mortgage payments, utility bills, and other costs. If your family depends on contributions from you to make the household function, short-term disability will make it easier for you to maintain your household, as you will have money available to help put towards the costs that you were typically responsible for. Keep in mind that while obtaining the quote, the representative will not ask you how you plan to use the benefits. The money is yours to use as you see necessary.
3. Manage Medical Costs
With some injuries, there are medical costs that you will have to pay out of pocket. When you don't have any income coming in, this task can seem incredibly hard. If necessary, you can use the money you receive from the short-term disability to help pay for your medical treatment or prescription medication. However you choose to use it, the money will make it easier to ensure you get the care you need. Keep in mind; some companies even offer added health benefits for policyholders, but you should receive all of this information when you obtain your quote.
4. Multi-Use Benefit
An excellent thing to remember about short-term disability is that it's not a one-time benefit. If you suffer a back injury in one year and then need to take maternity leave in another, you have the option of relying on your payments from short-term disability each time. This feature will give you the added benefit of knowing you're protected long-term. When obtaining your quote, make certain you ask about the specific longevity of your plan to ensure you have this coverage.
It's always best to be protected. Contact a short-term disability company to learn more about the services and to obtain a quote.Share