How is short-term disability insurance different from long-term disability insurance?
Like long-term disability insurance, short-term disability insurance provides coverage if you are sick or injured and can’t work. Benefits are paid on a weekly basis and for a limited duration (usually 26 weeks), after a very short waiting period (anywhere from seven to 30 days). If an employer offers disability insurance coverage, is it necessary to purchase a supplemental policy? Yes. Even if your employer offers disability coverage under a group policy, it is a good idea to buy your own individual coverage as well. Group policies are subject to cancellation at any time, and the maximum monthly benefit may not be adequate for your needs. Also, group policies lack the legal safeguards and consumer remedies of individual policies. If the insurance company delays or denies your group benefits you only get your back due benefits, in some cases interest and in rarer circumstances attorney fees, and only after you formally exhaust all administrative appeals and file a lawsuit. And when you
