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Requesting an individual short-term disability insurance quote online can help you determine whether buying a policy is worth it for you and your family.
You have to compare the premium cost to the projected benefits in the event of a claim to determine value. What is it worth to ensure peace of mind?
People with pre-existing conditions (such as pregnancy) will find very little value.
On the other hand, those living check-to-check or with large fixed expenses may want to compare the pros and cons of short vs long-term policies. Get an online quote to make an informed purchase decision before the need arises.
Is It Worth It To Get Short-Term Disability?
Take advantage of our online quotes to determine whether it is worth it to get individual short-term disability insurance. You pay premiums upfront with 100% certainty. In turn, you protect your income from an uncertain future event – a covered accident or illness that prevents you from working.
Verify that you do not fit pre-existing condition criteria before evaluating the possible cost to benefit ratio.
Buying individual short-term disability with a pre-existing condition is never worth it. The companies will decline to issue a policy or exclude benefits for at least 12 months. You are not eligible.
Do not waste your time requesting an online quote if you are currently disabled, unemployed, pregnant, or have been diagnosed or treated for any of these conditions in the last 5 years.
|AIDS / HIV||Alcohol / Drug Abuse||Alzheimer’s / Dementia|
|Heart Attack||Heart Disease||Hepatitis / Liver|
|High Blood Pressure||High Cholesterol||Kidney Disease|
|Mental Illness||Multiple Sclerosis||Pulmonary Disease|
Cost to Benefit
Comparing the definite upfront cost to the possible future benefit is the only way to determine whether buying individual short-term disability insurance is worth it for you and your family. Peace of mind comes at a price.
Cost per Month
Use our online short-term disability premium calculator to get an instant estimate for what a policy might cost per month for an individual. First, play around with the tool to see how changes in the monthly amount, benefit period, and elimination period affects rates.
Request an online quote after settling on the ideal configuration for your needs and budget. An agent licensed in your state may contact you to provide a precise figure and complete an application.
Use our online short-term disability benefit calculator to get an instant estimate for what the same policy might pay out in the event of a valid claim. Then, consider whether the premium investment is worth it for you and your family.
A policy replaces a portion of income if you become unable to work because of a covered illness or injury. This benefit can help you continue paying many bills.
- Mortgage or rent payments
- Utility bills and household expenses
- Food, clothing, and other necessities
- Health, property, and car insurance
- Unreimbursed medical expenses (deductibles copayments)
- Travel and lodging expenses for treatment
The possible benefit for pregnancy has the strongest value proposition – depending on whether you buy a private or a personal policy. Many women plan to conceive and can start their coverage at the ideal time – at least three months before conception. Here is a sample illustration of a personal plan showing a 37% cost to benefit ratio – outstanding!
- Annual premium cost (12 months): $2,472
- Monthly Benefit Amount: $4,000
- Elimination Period: 7 days
- Benefit Period: 12 months
- Benefit for C-Section: $6,517
Short-Term VS Long-Term Disability
Request an online quote to determine whether it is better to have short-term or long-term disability insurance. The two individual policy types have very different prices points for the two most distinguishing features: elimination and benefit periods.
Consider the pros and cons of the feature choices of these two alternatives. Decide if you want to supplement existing coverage by closing either gap by carrying multiple policies.
Then, apply the same lessons to pregnancy – if applicable.
An online quote comparison should reveal the price points for the elimination period choices for short-term versus long-term disability. The elimination period describes how quickly benefits begin after a covered loss.
In general, a policy with a short elimination period will cost more because people will file more claims. Temporary disabilities are far more frequent than permanent ones.
- Short-term disability elimination periods are expressed in days
- (7, 14, 30, 60, and 90)
- Long-term disability elimination periods are expressed in months
- (1, 2, 3, 6, 12, and 24)
A short-elimination period is a better choice for an individual who lives check-to-check and has little money in savings. This person might fall hopelessly behind on bills after missing just a few weeks of work and needs the checks to begin right away.
An online quote comparison should also reveal the price points for the benefit period choices for short-term versus long-term disability. The benefit period determines the length of claims payments last during the time you are unable to work at your own occupation due to a covered medical reason.
In general, a policy with a lengthier benefit period will cost more because the claim payment totals are much higher. Permanent disabilities can last for decades.
- Short-term disability benefit periods are expressed in months
- (3, 6, 12, 24)
- Long-term disability benefit periods are expressed in years
- (5, 10, 20, to age 65)
A lengthy benefit period is a better choice for an individual with ongoing fixed costs that might deplete their savings over time. For example, physicians with student loan payments from medical school often need the lengthiest claim payments.
A comparison of short-term disability versus long-term disability for pregnancy reveals a clear winner – with one possible outlier. Your online quote should make this obvious.
The three main claim reasons for pregnancy-related medical conditions are temporary.
- Pregnancy disability leave can last no longer than 9 months by definition
- Recovery from labor and delivery ends after 8 weeks maximum
- Postpartum disorders (bleeding and infections) typically resolve quickly
First, a plan with a short elimination period is better because of the relatively high frequency of claims. Second, an expensive benefit period lasting to age 65 has no value for temporary conditions. Therefore, a short-term policy provides a much better cost/value for pregnancy than a long-term one.
Postpartum depression is the outlier. Long-term disability plans are more likely to pay claims for mental and emotional disorders for a limited period. However, it is very difficult to get claims approved for depression.