In today’s difficult economy, it is easy to believe that even a short absence from work could result in financial disaster for your family. With nearly a third of all Americans becoming temporarily disabled and unable to work in their lifetime, preparing for a short-term loss of income with New York Disability Insurance will ensure that you and your loved ones are able to survive an unfortunate setback and move on to better days.

What is Short Term Disability Insurance?
This type of insurance will pay between 40-65% of your salary should you become temporarily unable to work due to a disability. Generally speaking, most policies will offer benefits for a period of three to six months, though some have extended coverage options. Additionally, most policies will put a limit on how much the insured can receive each month and a waiting period of up to two weeks may be necessary before a payout is received.

What kinds of disabilities are covered?

Severe cases of the flu, pneumonia, back pain and injuries that limit your mobility and functionality are among common causes of short-term disability. It is possible that your employer will insist that all of your sick pay is extinguished before you start receiving STD benefits. Also, benefits are normally extended immediately for disabilities related to injuries while you may have to prove the severity of an illness to access a payout.

How do I obtain STD insurance?

Most individuals have access to short-term disability coverage through their employers. The average annual premium for a group policy is around $200 and many employers assume this cost completely or partially as a benefit to their employees. Furthermore, New York short-term disability insurance is referred to as “guaranteed issue”, which means that you will be required to pass a medical examination to qualify for coverage.
Having New York Short Term Disability Insurance will protect you and your family from unnecessary financial strain. Whether you are suffering from a broken ankle or a severe case of pneumonia, wouldn’t it be nice to know that you are free to focus on your recovery and recuperation rather than being forced to worry about your loss of income and how you will make ends meet? Take advantage of this important employee benefit and enjoy the peace of mind that comes with knowing you are more substantially prepared for whatever comes your way.

Tags: New York Disability Insurance