Should you buy short-term disability insurance through work or purchase a policy privately outside of your employer?
This is one of the most important questions, with an unexpected answer for many people. The work-based policies are much better – especially for women seeking income protection during their maternity leave after a normal childbirth experience.
However, many employees do not have the option available at their job. You can ask your employer to offer a voluntary program, or seek plans with lesser benefits outside of work.
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When collecting disability benefits it is common for people to become concerned about their future income. Once they are able to resume working, they want to know they still have a job.
Disability insurance does not provide job protection. Several state and federal laws protect workers’ rights while away from work.
Dental hygienists are ideally positioned to ask at work for voluntary short-term disability employee benefits. Hygienists often work side-by-side with the business owner, and have direct access to the benefits decision maker.
Disability insurance helps protect their salary in the event of childbirth, illnesses, broken fingers, etc.
Schoolteachers often have a strong need for disability insurance employee benefits. Many schools require advanced degrees, which meant that many teachers graduate with significant student loan debt.
Any period of disability could cause a teacher to fall behind on loan repayments. Female teachers often want to start a family, and miss work during maternity leave.
Nurses have several ways to benefit from disability insurance employee benefits. The field is predominately female, which translates into a need to replace income during maternity leave.
Short-term policies sold at worksites do cover normal childbirth. Large hospital systems often provide an option. Nurses working at smaller medical offices often know the benefits decision maker personally.
Supplemental disability insurance fills gaps in many existing policy types. Buying an additional policy often makes senses.
Long-term policies often have long elimination periods. Group plans often have limited monthly benefit amounts. State disability exists in only five states. Social security disability does not cover temporary conditions.
The federal government does not provide disability insurance employee benefits. There are generous and flexible sick leave policies, but newer workers may not have a sufficient number of banked days.
Many disability companies market policies to federal government employees that workers can pay using a third party administrator. Paid maternity leave does exist for federal workers.
Postal employees typically cannot purchase disability coverage. The occupation has a long record of high claims rates. Many companies prohibit sales to the industry.
Certain disability insurance companies categorize postal workers as federal government employees. They pool risks with a large number of other government workers, opening the door for postal workers.
Many self-employed workers seek out individual disability insurance in the belief that they have only one option. Policies purchased directly have limitations compared to those purchased through employer groups.
Sometimes the self-employed have employees of his or her own, or work as an independent contractor with a larger entity. Explore all options.
Buying a voluntary short-term disability policy through your employer is the ideal option. Employer paid plans are very rare.
Paying the premium yourself at work means that you can obtain coveted coverage for normal childbirth. Ask your employer to offer the benefit so that you can enjoy paid maternity leave and spend time bonding with your baby without financial worry.