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What is Short-Term Disability Insurance Premium?


A Short-Term Disability Insurance Premium is a kind of insurance which provides income replacements to individuals who are not able to work due to any temporary illness. A Short-Term Insurance Premium is known to be those regular payments which holds the policies which makes it to the insurance firm for maintenance of the coverage and then receive benefits of the policy.


How Much Does Short-Term Disability Cost?


There are several reasons which affect the short-term disability cost:


  • Elimination Period: Elimination Period is also known as Waiting Period, is that amount for which you have to wait after you become disabled before receiving any kind of benefits.
  • Coverage Price: The amount of money replacement which you want to accept while you’re in your disability will directly impact your premium.
  • Benefit  Duration: The benefit duration is known as the maximum length of time, the benefits will be paid to you for each disability. Short-term disability generally provides coverage for a limited period, like three or six months or even a year.
  • Age & Health: The age and health factor can actually impact your premium. Younger and healthier individuals generally pay lower premiums, whereas older people or other occurring health conditions may have to face higher premiums.
  • Occupation: Short-term policies will take into consideration the nature of your occupation. If you occupation is considered hazardous, then you might have to face higher premiums.
  • Gender: The gender of the policy owner will affect influence the premium. Generally women have more experience of paying short-term disability program because of the statistical differences in disability claims.


Based upon the above reasons the cost of short-term disability decrease to a few dollars to over a hundred dollars per month.


Also, See: Long-Term Disability Insurance Premium

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