How Much Short Term Disability Insurance Do I Need?

  1. 0 POINTS
    Richard Guntner, MBA, LUTCF
    Owner, Guntner Financial Solutions, Maryland
    Short Term disability Insurance pays a percentage of your salary if you become temporarily disabled, meaning that you are not able to work for a short period of time due to a sickness or injury (excluding on-the-job-injuries, which are covered by workers compensation insurance).A typical short-term disability insurance policy provides you with 40 to 65 percent of your pre-disability base salary, according to the Life and Health Insurance Foundation for Education. The National Association of Insurance Commissioners estimates that these benefits generally last between three to six months. Most short-term disability insurance policies have a "cap", meaning you receive a maximum benefit amount per month. Short-term disability insurance policies also have a limit on the amount of times that you can receive benefits-up to two years, according to the Insurance Information Institute. .
    Answered on October 15, 2014
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  2. 11783 POINTS
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    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    How much short term disability do you need? Well, it's going to depend on what you have on hand that is liquid and if you want to liquidate those assets. People buy insurance because they either don't have the reserves or don't want to sell reserves to meet an unexpected illness or injury. How much you need depends on how you would handle the situation? All insurance, no insurance, a little of both? The answer is your situation.
    Answered on October 21, 2015
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