Short-Term Disability Insurance
In most cases, a disability will result in reduced income for you and your family. If you become disabled, how long could you pay bills and provide for your family with reduced earnings? How long will the disability benefit from your employer-sponsored insurance plan last? Do you have enough set aside to cover the additional expenses caused by a disability, maintain your lifestyle and cover everyday living expenses?
Our disability plan can help you prepare for a short-term disability, with benefits that can help supplement your income to help you pay the following expenses:
- Mortgage or rent payments.
- Food, clothing and other necessities.
- Co-payments.
- Medical costs not covered under other plans.
- Travel and lodging expenses for treatment.
This Short-Term Disability Income Protection Insurance is designed to supplement your existing insurance coverage by replacing 30 to 50 percent of your income, based on income, if you become disabled. Benefits from this plan are paid on a monthly basis, up to $5,000 per month. Benefit periods range from three to 24 months.
Additional plan features:
- You can choose the plan design that best meets your needs.
- Worldwide coverage.
- Sickness and on- or off-job accident disability coverage.
- A choice of benefit elimination periods to best fit your needs.
Plan features:
- Waiver of premium, which means that after you have been disabled for 90 days, or after the elimination period if longer, you do not have to pay your premium while you are receiving disability benefits.
- Portable, so if you change jobs or retire, you can take this plan with you.
- Premiums will not increase on existing coverage as you age, and your coverage is guaranteed renewable up to age 70 as long as premiums are paid when due.
Products are underwritten by The Paul Revere Life Insurance Company.
Policies have exclusions and limitations that may affect benefits payable. For cost and complete details, please see your benefits representative.
Policies are guaranteed renewable, as defined by the policy, as long as premiums are paid when due or within the grace period.
This policy (DIS 1000-NY) provides disability income insurance only. It does NOT provide basic hospital, basic medical or major medical insurance as defined by the New York State Insurance Department. The expected benefit ratio for this policy is 50%. This ratio is the portion of future premiums which the Company expects to return as benefits, when averaged over all people with this policy.
