Who Provides Short-Term Disability Insurance?

Short term disability insurance can be provided in 2 ways:

1. Through your employer as a benefit - group insurance

Usually, the short term disability is covered through the employment company as benefits with group insurance policies. In most cases, the short term disability insurance is received as group coverage by the employment company. The amount of the benefits and the price of the insurance policy depend on the type of job the employee does, their working hours, the salary they receive, as well as the employment period.

The main thing to remember about short term disability insurance policies provided through an employer is that the benefits or insurance stop when the employment stops, so it’s tied to the company, not to the individual.

2. Privately – individual short term disability insurance

When the person doesn’t receive short term disability insurance quote through their employer, they can opt for an individual (or private) short term disability insurance which can be purchased separately from the employer or as a way to get additional coverage for yourself. In these cases, it’s up to the individual to find the insurance provider and decide about the quotes, type of policy and the specific conditions of the short term disability insurance policy.

The main difference between the individual short term disability insurance policy and the one provided by an employer is that the insurance policy doesn’t stop when the employment does and it’s yours as long as you keep paying the premiums for it.

In most cases, the group coverage is provided by the employment company of an individual and covers all or a group of employees. The amount of the benefits and the price of the insurance policy depending on the type of job the employee does, the working hours, the salary, and the employment period. The main thing to remember in the group short term disability insurance policies provided through an employer is that the benefits or insurance stop when the employment stops, so it’s tied to the company, not to the individual.

On the other hand, individual short term disability insurance policies can be purchased separately from the employer or to get additional coverage for yourself. This insurance policy doesn’t stop when the employment does and it’s yours as long as you keep paying the premiums for it.

You’ve probably guessed the answer, but here it is – everyone. Even singles with no spouse or dependents can benefit from this protection, as can families and even seniors. In short, anyone with financial obligations and who might find themselves in a dire situation if their income were disrupted for even a short time needs the protection that only short term disability insurance can offer.

Disability can be broken down into two categories: long term disability and short term disability. Long term disability risks are relatively easy to understand. For instance, the elderly are at a higher risk for this type of disability. Those who smoke or consume alcohol frequently are as well. Obesity, poor heart health, poorly managed diets and even dangerous occupations can put you at greater risk for sustaining a serious injury or illness that leaves you unable to work for long periods.

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