Why Do I Need Short Term Disability Insurance?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaYou should purchase long term disability, but short term disability insurance should be the minimum coverage to protect your paycheck. But before you do determine if your employer sponsored group benefit plan has a short term disability policy. Keep min mind that Social Security has a disability plan for working Americans and other for non workers.Answered on August 4, 2013flag this answer
2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaWhat's nice about short term disability insurance is that it has a shorter elimination period. That means, rather than waiting 90 days for your policy to pay you benefits (which is common with long term disability insurance), you may only have to wait 7 or 14 days before you can collect a benefit. The benefit period won't be as long though, but for things like pregnancy or a broken leg, that's all you'll need.Answered on November 19, 2013flag this answer
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