The question we are most often asked is HOW MUCH? Well, the general answer is below. Specific prices can be answered at the next step.
However; the big question is not the cost but rather the LOSS. Most families cannot exist with the suspension of a paycheck for one, two, three, or more months.
If you do not have a short-term disability policy, you need one desperately.
Benefit Amount
14 and 14 / 30 and 30 (Elimination periods)
$1,000
$25.62 / $21.00
$2,000
$51.24 / $42.00
$3,000
$76.86 / $63.00
$4,000
$102.46 / $84.00
$5,000
$128.08 / $105.00
$6,000
$153.70 / $126.00
NOTE: Other monthly amounts available. The rates quoted are for 30 day elimination period.
Short-term disability insurance pays a percentage of your salary if you become temporarily disabled, meaning that you are not able to work for a short period of time due to sickness or injury (excluding on-the-job injuries, which are covered by workers compensation insurance). A typical short-term disability insurance policy provides you with 60 to 70 percent of your pre-disability base salary.
The National Association of Insurance Commissioners estimates that these benefits generally last many months. Short-term disability insurance policies place a “cap,” meaning you receive a maximum benefit amount per month. Short-term disability insurance policies also have a limit on the amount of time you can receive benefits — up to two years.
Federal short-term disability insurance, which is often purchased while working as a Postal Service or Federal employee, can be paid by payroll deduction. Some products offered by The Benefit Coordinators are Group short-term disability insurance policies offered on a “guaranteed issue” basis, meaning you do not have to take a medical exam to buy coverage.
Did You Know?
Short-Term Disability can fill the gap between the injury and when Worker’s Compensation begins.
The Benefit Coordinators offers Short-Term Disability programs for 52 weeks of benefits.
It is the federal employees responsibility to enroll in their own short-term disability program.
No, short-term disability is not a core benefit. However, employees do have access to Worker’s Compensation.
From private insurance carriers, employees are eligible if they work more than 30 hours per week.