Short term
disability is worth the cost
Author: Ivon
T. Hughes
Short
term disability insurance is disability insurance that covers you only for
the initial part of an injury or illness. So it is also important that you
have some type of long term disability insurance in case you were to be unable
to work in the longer term. Short term disability insurance is normally provided
by an employer and pays a percentage of your salary should you be unable
to work. Most employees are fortunate to have never had a claim, but appreciate
having the benefits of short-term disability insurance as a cushion.
The
reason for short term disability insurance is to tide you over in the short
term until you are able to return to your job after a brief absence. If you
feel that you do not have enough of a cushion to rely on, then it is highly
recommended that you look into purchasing an individual long term disability
insurance policy.
Short
term disability insurance means that you can rest assured that you will receive
funds within one to fourteen days after your injury or illness, depending
on the terms of your policy. The speed with which you receive these monies
can be a godsend to those in need. A typical short term disability insurance
policy provides you with a portion of your salary, usually 50 or 60 percent
for up to half a year. Most short term disability insurance policies have
a cap, which means that you can only receive a maximum benefit amount per
month.
Short
term disability; is the cost worth it? The answer to that question depends
on you. You cannot rely on the fact that your job does not require much physical
exertion, for there are a lot of illnesses such as carpal tunnel syndrome
and others like it that are the bane of the white collar world. But if your
job does require manual labour, even labour as simple as lifting a box, then
you should seriously consider making sure you are covered by short term disability
insurance. Everyone needs the added security of a percentage of normal income
to support the family and standard of living.
Short
term disability insurance on the whole is much like fire insurance. While
you may never make a claim, it is a blessing when you do need it. Short term
disability insurance is best backed up by long term disability insurance.
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Ivon T. Hughes, The Hughes Trustco Group Ltd.
Online Insurance Broker - Get a FREE Quote TODAY!
Tel: (514) 842-9001 Email: info@trustco.ca
Web: http://www.trustco.ca
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