Murray State University
Short Term Disability Income coverage provides you with benefits to replace part of your paycheck when you can’t work due to illness or injury. You may need to meet certain conditions to be eligible for benefits, such as completing a waiting period.
What is Group Short Term Disability Income Insurance?
Group Short Term Disability Income Insurance provides you with benefits to replace part of your paycheck when you can’t work because of a sickness or injury. You may need to meet certain conditions to be eligible for benefits, such as completing a waiting period. During the waiting period, you may be able to use your vacation or sick time if offered. Generally, Short Term Disability benefits are paid for a few weeks to a few months.
How can Short Term Disability benefits be used?
When your claim is approved, you will receive weekly benefits to replace part of your income based on your coverage level. You may use this money however you would like. Below are a few examples of how your Short Term Disability benefits could be used, depending on how much coverage you have:
Why should I enroll through my employer?
How much does it cost?
The monthly cost of Short Term Disability Income Insurance varies based on the amount of coverage and sometimes your age. Your monthly premiums may be less than dinner at a casual restaurant.
Do I need to provide health information?
Generally, if you enroll when first eligible for coverage, you will not have to provide any health information. If you enroll for coverage after the initial offer, you may need to provide us with health information on a form called "Evidence of Insurability." This form includes questions about current and past health conditions. We may also request information from treating doctors. If evidence of insurability is required, it must be approved by us before your coverage becomes effective.
This is a summary of benefits only. A complete description of benefits, limitations, exclusions and termination of coverage will be provided in the certificate of insurance and riders. All coverage is subject to the terms and conditions of the group policy. If there is any discrepancy between this document and the group policy documents, the policy documents will govern. To keep coverage in force, premiums are payable up to the date of coverage termination. Disability Income Insurance is underwritten by ReliaStar Life Insurance Company (Minneapolis, MN), a member of the Voya® family of companies. Policy Form HP08GP and/or HP13GP (may vary by state).
An injury or illness could keep you from working and collecting your paycheck. But it won’t keep your expenses from adding up. Short Term Disability Income Insurance can help ease the financial stress of an unexpected injury or sickness.
|Total monthly expenses||$2,500|
Income while on disability
|State Disability Insurance benefit, if applicable (approximately 0% of normal income)||$0|
|Monthly short term disability benefit (60% of normal income of $4,200)||$2,520|
|Monthly benefit paid||$2,520|
Remaining income for expenses or savings
The amounts shown above are for illustrative purposes only. Actual costs/results may vary.
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