Just wanted to get a feel for everyone's thought on the matter. My wife just started her new attending job and short term disability is one of the offered benefits. The company pays for basic long term disability and life insurance. We already have a individual long term disability insurance policy with one of the major providers.
The short term policy would cost about $90/month ($1080/yr) for up to $1500/week benefit up to 24 weeks. It does cover up to 8 weeks of 'disability' after C-section which may be useful if we have another child...I suppose if she took off a few months after delivery that'd be worth it... It doesn't say that pregnancy is an exclusion but since it specifically mentions C-section for 8 weeks, I do wonder if just regular vaginal delivery would be covered.
$1080/yr just seems high compared to the relatively cheap supplemental life and disability we're going to buy through the employer. We have a growing emergency fund which isn't quite there yet but is large enough where we'd still be ok in the short term if something were to happen.
Would you go with short term disability or just save the money and add it to your emergency fund?
The short term policy would cost about $90/month ($1080/yr) for up to $1500/week benefit up to 24 weeks. It does cover up to 8 weeks of 'disability' after C-section which may be useful if we have another child...I suppose if she took off a few months after delivery that'd be worth it... It doesn't say that pregnancy is an exclusion but since it specifically mentions C-section for 8 weeks, I do wonder if just regular vaginal delivery would be covered.
$1080/yr just seems high compared to the relatively cheap supplemental life and disability we're going to buy through the employer. We have a growing emergency fund which isn't quite there yet but is large enough where we'd still be ok in the short term if something were to happen.
Would you go with short term disability or just save the money and add it to your emergency fund?
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