Do You Know That Pregnancy Is Often Addressed By Short Term Disability Insurance

By Robert C. Keevers

Thanks to formidable marketing efforts of a certain insurance concern, many people mistakenly believe that short term disability insurance is intended to provide a basis of income replacement only for people who are temporarily unable to work due to non-work related accidents. It's certainly not wrong to say that this type of short term insurance can be used to pay for necessary living expenses while recovering from accidents but it's definitely not true that it comes into play only when you've had an accident. It also was meant to cover illnesses but not only just the illnesses that most of us think of like cancer or heart disease or something similar. There are a lot of people who are surprised to learn that certain pregnancy difficulties, deliveries and even some postnatal ailments are considered to be covered illnesses as well.

Short term disability insurance is wonderful to have in the event of sudden and unanticipated situations that prevent you from drawing a paycheck on a temporary basis. It's good to know that you can fall back on this type of insurance income replacement when you require it and have personal expenses to pay and no employment income coming to you. Unfortunately, many people ignore the opportunity of safeguarding their financial future with this type of insurance. Instead, they gamble that they won't get sick or have an accident and therefore won't need it but completely forget or don't know that pregnancy is a legitimate covered illness. But for women who are not yet pregnant but who are getting ready to start a family, the cost of just a routine delivery can far exceed the amount of money paid out in insurance premiums. Additionally, there is a whole list of problems that could happen during an atypical pregnancy.

Just like all insurance alternatives, there are multiple forms of short term disability insurance plans available. Three of the more popular are group, individual and one that falls between those two called a voluntary policy. They are primarily typed according to cost to buy, amount of the deductibles, benefits available, eligibility as well as waiting periods. Another defining characteristic is that these plans are either available as employer sponsored programs to their employees or to self-employed persons who own and run their own businesses.

Most of us understand and are familiar with group insurance plans because these have been typically used by employers for large groups of employees thereby allowing them to be both cheap and easy to procure. The individual insurance policy made an appearance within the past 20 years and although more limited in terms of types of benefits offered and ability to be offered cheaply, it is nonetheless a good alternative form of insurance with people who don't qualify for or can't obtain group plans. Lastly there is an in-the-middle type of coverage called the voluntary policy. These plans accumulate pre-tax dollars that employees contribute through payroll deductions which cost the employer nothing thereby making it an attractive option for employers while making insurance coverage more accessible at cheaper rates for employees. Voluntary insurance plans are quickly gaining acceptance by both employers who pay nothing to administer them and employees who enjoy tax free benefits both from lower taxable income and no tax liability on the money that was spent for medical reasons.

Should you and your spouse be considering starting a family and do not have maternity health insurance, be aware that it is a covered condition that can qualify you for short term disability insurance. Childbirth is a rewarding experience when money worries can be removed from the equation and there are a number of insurance options that can help you do just that.

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All the necessary info is available within Short Term Disability Insurance and remember to also check Maternity Health Insurance.