Short term disability coverage can save your financial future in some cases. The idea behind this is to make sure that employees who suffer some sort of an injury or illness that puts them out of work for a while can survive without their paychecks. Oftentimes, this allows them to keep their job and to keep up with their bills, avoiding serious economic shocks. The reduction in stress can also help make sure that they do get the time and space they need to heal, so there are other benefits to be had from this coverage.
Where Does It Come From?
Most of the time, your employer provides this benefit. This is usually provided as part of your employment package. There are some companies out there that will give you the option to pay for it yourself if they don’t offer it as a standard part of working for their company. There are also third-party insurers that people can work with to get this type of insurance.
Most of the time, you won’t be eligible for this type of coverage unless you meet certain specific conditions.
Getting the Benefits
You’ll usually have to have worked for your employer for a certain amount of time before you can get this type of coverage from them. This should be outlined in your employer policy documentation and, if you don’t know, you should get it from the HR department at your employer’s offices.
Most of the time, you’ll also have to be a full-time employee to get these benefits, as well. This will, again, be specified in the information you were given when you were hired and you should look into the matter if you don’t know. Most employers define full time as 30 hours or more per week, though there may be some variation there.
How it Works
Most of the time, you won’t get a full paycheck if you’re on temporary disability. You’ll get a percentage of what you would normally earn. If you’re salaried, this is easy to figure out. If you’re hourly, the amount you get will depend upon the hourly rate you make and how many hours you usually work.
The disability benefits are meant to cover you in the event that you have a serious illness or injury, but only in cases where these are short term. The benefits may last anywhere from 1 to 6 months, depending upon your employer’s policy. After that, you may have to apply for Social Security disability benefits to keep income flowing. An attorney can help you apply for disability benefits if you need assistance and, in most cases, having one do the work increases your chances of getting them.