Short-Term Disability Insurance Choosing to protect your income
What happens if I can’t work for a month or two … or more? A broken arm, surgery or having a baby could keep you out of commission and off the job for six to eight weeks or longer. Your medical insurance will help cover the cost of treatment. But what about other expenses — your mortgage or rent, car payment, groceries and utilities? Once you’ve used up your sick leave and vacation time, the paychecks stop. But the bills do not. Think of Short-Term Disability insurance as income protection insurance The chances of suddenly not being able to work are greater than you may realize, and the financial consequences can be serious: • Within one year, one in 13 working people will suffer a short-term disability for more than one week. 1 • Over 90% of disabling illnesses or injuries are not work-related, 2 so most disabled workers are not eligible for workers’ compensation. • Even a short disruption of income can be bad news because two-thirds of American families live from paycheck to paycheck. 3 Short-Term Disability insurance provides income assistance and a way to help you pay your bills and keep your life as normal as possible if you become sick or injured and cannot work. And through your employer, you can get this protection at an affordable group rate. How do I know if I’m eligible to participate in this plan? You are eligible to participate if you are an active full-time employee as defined by your employer and meet any other policyholder defined eligibility requirements.
Key Advantages of This Plan
• Your premiums are paid through a convenient payroll deduction. • You can purchase coverage without providing proof of good health. • This plan provides a benefit for a disabling illness or injury that is not work-related, including pregnancy. • Your plan also includes Rehabilitation benefits that provide services and support targeted at helping you return to active work.
1 1987 Commission Group Disability Table, Society of Actuaries 2 National Safety Council, Injury Facts 2004 Ed. 3 Parade Magazine Is the American Dream Still Possible? April 23, 2006
Sources:
14
Made with FlippingBook - Online magazine maker