Short-term disability insurance has been commonly overlooked by most people. However, it would be imperative if you were injured and out of work for several weeks or months. Companies that offer disability insurance claim the benefits offered by it as the second tier of the menu. A majority of people would be concerned with the two major employee benefits – 

  • retirement benefits 
  • health insurance benefits 

However, if you have never paid attention to it before, consider finding out about the kind of disability insurance you have along with what it covers for you. Short-term disability insurance offered benefits you require before an event occurs. After the event occurs, it would be too late for you. 

When do you require short-term disability insurance 

You would require short-term disability insurance in the following situations – 

  • Your employer does not offer you coverage 

Despite both short-term and long-term disability insurance have been made available through several employers, you should not assume them. As a majority of people were concerned with health insurance and retirement benefits, disability insurance is often not a priority for people. It is the mentality of young people. 

Rather than presuming about your company or organization offering short-term disability insurance, find out about it along with the kind of benefits you would earn. In the event, your company does not offer short-term disability, consider making the most of a private plan. 

  • You do not have a short-term disability but have long-term coverage 

It could be possible with most people to have long-term disability coverage through your employer but lack short-term disability. Despite most employers offer both the policies together, it would be in your best interest not to assume anything. 

Despite you have long-term disability coverage, it would be imperative that you buy short-term disability coverage as well. You do not have to wait for six months for long-term disability to kick in if you have short-term disability coverage. 

  • You are a self-employed person 

You would have an insurance policy that you purchase independently. You should look for short-term disability coverage to cover almost all events that may cause your inability to work. It would be inclusive of major illnesses. 

  • You are an independent contractor 

Several people would come under the independent contractor in the present times. However, basic elements of independent contractor status have been lacking the benefits. 

As the income of an independent contractor is based on their ability to serve the employer, having short-term disability coverage is necessary.