20 Important Tips for Proper Road Trip Safety
Summer is the perfect time for a road trip. Whether you’re headed to the beach or the mountains, it’s important to stay safe while on
When it comes to taking out insurance policies, it can feel as though everyone has an opinion on what you do and don’t need. With so many options available, choosing the best plan is often overwhelming. And short-term disability insurance can really feel confusing.
But short-term disability insurance can be a real lifesaver in the right circumstances. It can prove to be an invaluable tool to bridge the gap if tragedy hits. This type of policy offers significant peace of mind for you and your loved ones.
As the name suggests, short-term disability insurance is a policy designed to protect your income for a short period. This plan kicks in if you are unable to work for a specific period due to illness or injury. It can be useful for those who find themselves temporarily incapacitated, and it provides short-term relief.
These policies can also cover any illness which requires an extended stay in the hospital. Essentially, short-term disability insurance covers any condition, disease, or injury, which removes your ability to work for a while. It does not provide coverage for permanent disabilities.
When you choose an insurance plan, you will specify coverage of a certain percentage of your earnings. This is the amount the policy provides when needed. Most people opt for coverage of around 70%, but your agent can help you decide what is right for you.
You then pay a premium to the insurer for as long as you wish the policy to remain in place. You also will determine the deferment period on the plan, which is the length of time you must be off work before the coverage kicks in.
If something happens that temporarily stops your ability to work, then you file a claim. As long as the situation meets the criteria outlined by your insurer, you will receive an income. This payment will kick in after the deferment period ends.
You will receive payments until you return to work, or you deplete the plan’s funds.
Short-term disability insurance has a range of advantages, including:
Here at Lake Region, we pride ourselves on finding you the very best deal every time. As an independent broker, we have access to a range of insurance companies and plans.
Our experienced team can help you narrow down the best short-term disability policy for your needs. Get in touch for a free consultation about all your Minnesota insurance needs.
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