Title: 5 times short-term disability insurance makes sense | Haven Life
Headings: 5 times short-term disability insurance makes sense
5 times short-term disability insurance makes sense
Short-term versus long-term disability insurance
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Disability statistics
Who should consider short-term disability insurance?
Your state and employer do not provide short-term disability insurance
Why life insurance
Self-employed people
You want gap coverage
Your savings account is low (or you don’t want to dip in)
Your family depends on you
Is short-term disability insurance worth it?
Why life insurance
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Content: It might not be as long as you think. In addition, you are of course draining that rainy day fund and will need to build it back up when you return to work. This could leave your family vulnerable during that “in-between” period. After running the numbers, you may decide to rely on your savings to provide income replacement during a period of disability. If you opt to go this route, which is essentially self-insuring the risk, consider whether holding a disability insurance policy during your savings build-up period makes sense for you. Your family depends on you
No matter the makeup of your family, a disability for one of the breadwinners can be financially devastating. Unless you have another source of income sufficient to support your family, if your income stops because of disability, you could deplete your emergency savings or might not be able to keep afloat. When the ones you love the most are counting on you for financial support, having coverage in place can bring you tremendous peace of mind. Is short-term disability insurance worth it? Short-term disability can be a financial safety net for your family when you need it most.