Group Short-Term Disability Insurance

Is Group Short-Term Disability Worth it?

(Find out what it's really all about)

Jessica Huneck | October 11, 2019
Group short term disability insurance

People aren’t normally chomping at the bit to buy group short-term disability insurance, but maybe they should be. It covers a lot of things and can come in handy when a short-term disability need arises.

To know which group short-term disability plan is right for you, just contact your local independent insurance agent. They have all the facts and all the options when it comes to your insurance needs. Read on to learn more.

What Is Group Short-Term Disability Insurance?

What Is Short-Term Disability Insurance?

Starting with the foundation is always a good way to have a solid understanding of a subject. So group short-term disability insurance should be no different. Group short-term disability insurance is provided to a group of employees where they have the option to participate in its benefits. 

It does not determine premiums on the group's health factors, and normally the employer is the one who provides the benefits. The benefits replace your monthly income ranging from 40-70%. 

Types of Claims for Group Short-Term Disability

Musculoskeletal injuries: Musculoskeletal injuries are covered under a group short-term disability policy. Musculoskeletal injuries are injuries of the soft tissue caused by impact or force. 

Pregnancy: Yes, even having a baby is considered a qualifying claim under a group short-term disability plan. It can come in handy when you don’t have the best maternity leave options.

Complications from pregnancy: Another claim that can arise in group short-term disability is complications from pregnancy, including doctor-ordered bed rest. 

Short-term illnesses: Illnesses that last longer than your typical get-out-of-work-free card could be a viable claim for your group short-term disability policy. 

An injury that causes disability: This is not an injury that happens on the job, but outside of it. An example could be breaking your leg on a weekend hike that makes you unable to perform your regular job duties.  

Who Needs Group Short-Term Disability Insurance and Why?

The employed and employers all need group short-term disability insurance. For the employed, your employer may offer this as one of their benefits. If you are the employer, then you need to be offering this as a benefit to your employees. 

No matter which category you fall into, you should have your local independent insurance agent go over your options. 

For the employee, you should be meeting with your independent insurance agent to make sure the coverage your employer is offering is adequate. For the employer, you also need to meet with your independent insurance agent in order to find the best plan for your employees. 

When is the Best Time to Get Group Short-Term Disability Insurance?

Group short-term disability insurance should be on your short list. This type of policy will come up faster than you can say group short-term disability insurance, and when you need it, it’s too late. 

So the best time is yesterday. But since you probably don’t own a time machine, then now is fine. Your local independent insurance agent can show you the ins and outs of all the things that group short-term disability insurance can offer. 

What Is the Best Group Short-Term Disability Plan?

The best is difficult to say because it’s dependent on your needs. If you are the employer, you need to decide (along with your independent insurance agent) how much coverage you are providing to the members of the group plan. This includes the length of time and the percentage of their income the policy will pay out.

How Long Will Group Short-Term Disability Insurance Last?

Well, it’s short-term, so you can guess that the benefits are probably only available for a short period of time. The benefit payout lasts only months, typically 1-12 months for short-term disabilities. 

That’s okay because it’s doing exactly what it is meant for, covering short-term disability claims. If your disability or illness continues, that’s when your long-term disability policy would kick in. These are all things that can be discussed with your independent insurance agent who knows where to find all the answers. 

How Much Will Group Short-Term Disability Cost?

Pricing always on your mind? When it comes to the cost of group short-term disability insurance, you are one lucky duck because it’s normally one of the cheaper insurance products out there. Price varies, but because you are a member of a group plan, it’s even less expensive. 

Members pay member pricing, as in you share the premiums with the group. And some employers even cover part or all of the premiums too. Ahh, it’s good to be a part of a group.

Is Group Short-Term Disability Coverage State-Specific?

Insurance companies are the ones who write insurance policies and their coverage options. In the case of group short-term disability, state specifics don’t usually come into play. But just to be sure, you'd better check with your local independent insurance agent when you schedule your meeting.

How Can an Independent Insurance Agent Help?

A good independent insurance agent is the ying to your yang. They work for you in all your insurance needs and guide you in which coverage is right for you. What’s nice is that they work with all different insurance companies so that they can provide you the best coverage at an affordable price tag. 

Now, who's ready to get their insurance problems solved?