Women who work face a number of issues when it comes to taking off time to start a family. Households in U.S have both parents working full-time so many parents can’t time off without being paid. So, the question is will short term disability insurance over maternity leave?
According to the U.S. Department of Labor, only 12% of workers receive paid family leave through their employers. Some employees are eligible for Family and Medical Leave act (FMLA)benefits, which provide up to 12 weeks of unpaid leave with no threat of job loss. However, even when employees are eligible for FMLA leave, often with their financial situation means they cannot afford to take much time off, unpaid.
Because of unpaid maternity leave expecting parents often bank their sick leave and vacation time in preparation for the new baby. This is a great strategy for people who have been at their employer for quite some time but this doesn’t work as well for all people.
Disability insurance can be thought of as an income protection, kind of like a safety net for your paycheck. Some companies and employees say they offer paid leave when they are technically offering short-term disability insurance payments that define disability to include childbirth and postpartum recovery. The insurance payments can help cover expenses while you are unable to work.
If you are counting on your employer provided short term disability make sure you understand the policy term and benefits. Most plans cover 50-100% of your salary for six weeks pf postpartum absence, or longer if you’ve had a C-section or other medical complications.
Looking to get short term disability insurance coverage for maternity leave, you have to plan ahead because you will need to purchase it before you get pregnant.
You must obtain the short-term disability coverage before getting pregnant otherwise it is considered a pre-existing condition and won’t be covered.
How soon can I start receiving benefits?
Your disability typically begins on the day you deliver, although it could start earlier if you have a medical complication during pregnancy that prevent you from working. You may have a short waiting period called an elimination period before you start receiving payments. That elimination period could be a week, two weeks or even a month.
Short-term disability insurance is an essential part of planning to start a family, giving you financial peace of mind while you take time off to recover from childbirth and bond with your new baby. The amount you get back typically far exceeds the premium you will pay.
Give us a call to get a free quote and to learn more about disability insurance.
Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance.
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