Short term disability insurance may be provided by your employer, purchased as an individual policy or be a state-managed coverage program. Identical to all disability insurance policies this coverage pays you a percentage, typically 40 to 65 percent, of your base regular compensation.Short term disability insurance plans usually make payments for three to six months (although some plans have longer periods) after an injury or illness suffered by an employee in a non-work-related event. If you’re injured while on the job, you are usually covered by your employer’s workers compensation insurance.
Most short term disability coverage comes with a “waiting period” before payments begin. Although there are plans with no waiting period, most employer-sponsored policies mandate a 7- to 14-day waiting period after the disability date before you qualify to receive benefits.
Sometimes, there are different waiting periods, depending on whether you suffer injury (no or shorter waiting period) or illness (longer waiting period). Neither condition usually affects the specified length of time you’ll receive payments, only when they begin.
If the payment period runs out–and you’re still unable to work–long term disability coverage, if you have it, takes over and pays you as long as you remain disabled. You may or may not need to provide monthly confirmation of your disability from your doctor for short term plans.
To learn more about this program, contact Sackett & Associates Insurance Services, who have been serving Sonoma County for over 30 years. We offer both group and individual short term disability insurance coverage. If you’re interested in coverage, Sackett & Associates Insurance Services can give you multiple quotes along with our valuable advice. Call us today!
Long term disability insurance is an important employee benefit, as the US Census Bureau states that people have a 20 percent chance (one in five) of becoming disabled over their life. Yet, many employees, even workplace veterans, don’t understand how it works.
Long Term Disability Features
How It Works
A person suffering a disease or injury that creates a long term disability in a non-workplace situation and is unable to work over time is typically eligible to receive payments, albeit less than their regular compensation. Payments are often in the range of 55 to 80 percent of their normal compensation amount, whether they’re on salary or hourly pay, depending on policy language.
Continuing monthly payments usually depend on a doctor issuing evidence that the person is still unable to work. People can also buy supplemental long term coverage, if their primary policy provides inadequate income for their needs.
To learn more about your options, contact Sackett & Associates Insurance Services if you work in California. Serving Sonoma County for over 30 years, Sackett & Associates Insurance Services will give you the information you need to make a wise decision.
Long term disability insurance is one way in which you can protect your assets for the future. In the event you are injured or develop an illness that prevents you from working long term, disability coverage provides much needed income for you to live on without having to deplete your savings.
Most people do not think twice about acquiring homeowners or car insurance to protect these assets. However, getting disability coverage as you enter your middle age years is just as important as it protects your future savings. Many people try to pad their savings during the last 10-15 years of employment in order to have sufficient funds for their retirement. With disability coverage, you need not worry about an accident or illness putting a damper on your financial plans.
Most insurers have an age limit when it comes to offering disability coverage. By discussing policy options with your insurer today, you’ll have a better idea of what kind of protection you can obtain.
For more information about disability coverage in Sonoma County, CA, contact Sackett & Associates Insurance Services today.
You have worked hard to create a wonderful life for your family. However, one accident or illness can quickly undo all of the hard work that it has taken to create a sense of financial security. When you have utility bills, mortgages, and car payments that are dependent on your income and your income is no longer available, you can quickly fall into a deep financial pit. Even though in a year or two you may be back on your feet, the financial repercussions of your illness may be felt for four or five years.
While many people understand how crucial life insurance is, they may be unclear about the importance of long term disability insurance. Long term disability gives you a fall back plan in case you are injured, ill, or otherwise debilitated for a longer period of time. Depending on your plan, your long term disability insurance could pay up to 60 percent of your normal paycheck. Short term disability can be activated in as little as 2 weeks after you become disabled. Although long term disability can take up to 90 days to kick in, in some cases it will continue paying you a portion of your income for years.
For more information about long term disability insurance or other insurance needs, contact Sackett & Associates Insurance Services located in Sonoma County.