Your decision to consider short term disability coverage to complement your long term disability insurance depends on a few factors. These considerations include -
How long is the elimination (waiting) period in your long term disability coverage? Waiting periods in long term disability policies can range from 90 to 180 days or longer. What is your contingency plan for the interim period? Do you have some form of short term disability insurance from your employer? What level of protection does it provide for you now? How is your overall health and medical history? Do you have a propensity to incur injury or illness? Or, are you a workout warrior and in great shape? Are you self-employed? If your income really depends on you more than anyone else in your firm, you should consider having the absolute best disability income protection available? These are but a few reasons you should look at your short term and long term disability insurance package as a whole. By matching waiting periods, benefit levels, definitions of disability, and optional coverages that you feel complete the perfect picture, you can enjoy the peace of mind and security you deserve to perform at the pinnacle of your ability.
Refer to your insurance policy contract for specific information regarding your coverage and for actual terms, conditions and exclusions. The above statements are general in nature and may or may not reflect the actual terms of your insurance policy.
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