We get many request for short term disability insurance to cover maternity leave. Most of these requests are from women who have left a large employer, or are no longer working full-time, and are therefore not covered under a group short term disability policy (STD). They’re either already pregnant or considering becoming pregnant, and are looking for some disability coverage to provide income while out of work and on maternity leave.
Unfortunately, normal child birth and maternity leave doesn’t qualify as a disability under individual disability policies. This is different from group STD policies that you may have through your employer. Many group STD policies do cover maternity leave, and therefore provide some of the much-needed income while mom recovers and stays home with her baby for a few weeks. Although you can’t buy an individual disability insurance policy to provide income while on maternity leave, you should still consider this type of coverage for other times you may be unable to work due to health issues.
Get Disability Insurance for Your New Family
Since you’ll be adding to your family, protecting your income (and your spouse’s income) should be high on your list of priorities. Many people don’t really consider life and disability insurance until they have a new child that depends on them. An unexpected illness or accident that prevents you from working will certainly have dramatic consequences on your family.
Unfortunately, most people don’t know, or don’t think about, the risks. A 30-year-old female has a 28% chance of being out of work for at least 90 days before she’s age 65. Since the odds are so high, and the financial impact so great, it is important to make protecting your income the first step in your financial planning.
Even if you have LTD coverage through work, there are many reasons why this might not be enough, and why you should consider supplementing with an individual DI policy.
Finally, if adding to your family has caused you to consider getting life insurance (and it should), it’s very easy to also get a disability insurance policy. Since the underwriting process is virtually the same, it’s very good planning for people to apply for both at the same time and protect their income, not only from pre-mature death, but also from accident and illness.
Request a free quote now to see how much coverage you can buy and what it costs. Talk with one of our experienced licensed agents to learn more.
