Why is having Disability insurance important?
If you are unable to work due to illness or injury, disability insurance can help pay your most important expenses. These include mortgage or rent, car payments, food, child care/tuition and utilities.
- Short-Term Disability Insurance replaces a portion of your income during a disability which could last up to 26 weeks.
While many people think that disabilities are typically caused by accidents, the majority of long-term absences are actually due to illness.* A good rule of thumb is to protect 60-80% of your after-tax income. This will help you meet your most important financial needs.
The plan offers:
- Direct payments: receive a portion of your salary paid directly to you if you are unable to work after satisfying the initial Elimination Period. (Short-Term Disability benefits pay weekly)
- Easy claims filing: Report claims online or by phone
- Competitive rates: This group coverage is offered only through your employer