Short Term & Long Term Disability Insurance
Protect your income and financial stability in case an illness or injury prevents you from working.
Security as You Face Unexpected Health Challenges
At Manna Insurance, we can come alongside you to get short-term disability insurance that offers immediate financial relief during temporary disabilities and ensures that essential living expenses are covered while you recuperate.
Additionally, we can help you choose the right long-term disability insurance, which steps in if your disability lasts for an extended period. This can potentially cover a significant portion of your income until you can return to work or, in some cases, until retirement age.
Preserve your financial stability and ensure you have a lifeline during times when you cannot earn a paycheck due to illness or injury.
So what coverage do I need?
Protection for Serious Injury without Stressing Over Finances
Short Term Disability
Imagine you suddenly face an injury or illness that keeps you from working for a few months. That's where short-term disability insurance steps in. It's like a financial safety net for those unexpected bumps in the road.
Temporary Income Replacement
Short-term disability insurance provides a portion of your regular income (usually around 60-70%) for a limited period, typically up to six months.
Quick Access
It kicks in relatively quickly, often within a few weeks of your disability, helping you pay your bills and daily expenses while you recover.
Common Uses
People often use short-term disability for surgeries, injuries, maternity leave, or illnesses that require time off work.
Long Term Disability
Now, picture a more serious scenario where you're unable to work for an extended period, possibly even years. Long-term disability insurance is your long-haul solution to ensure financial stability during such times.
Extended Protection
Unlike short-term disability, long-term disability insurance covers you for a more extended period, potentially until retirement age, if necessary.
Income Replacement
It provides a similar income replacement benefit, usually 50-70% of your salary, but for a more extended period.
Protection for Serious Disabilities
It's designed for severe injuries or illnesses that leave you unable to work for an extended duration, such as chronic illnesses, severe injuries, or disabilities.
Ways to Save on Short Term & Long Term Disability Insurance
See if your employer offers disability insurance as part of your benefits package. Group policies provided by employers often have lower premiums than individual policies, and some employers may even cover the entire premium cost.
Check with Your Employer
A longer waiting period typically results in lower premiums, so choose a waiting period that aligns with your emergency savings and financial capabilities.
Adjust the Waiting Period
We will obtain quotes from multiple insurance providers specializing in disability insurance. Then we will help you compare coverage options, benefit amounts, and premiums to find the most cost-effective policy that meets your specific income and disability coverage needs.
Shop Around
ON THE PODCAST
ON THE PODCAST
The Insurance Coverage Often Overlooked and Why It's So Important!
In this episode, Dan and Blake talk about all things disability insurance. It's oftentimes overlooked and not talked about enough, but it's so important. It helps cover one of your most valuable assets: your income!
This conversation dives into why it's important, what is at risk when we don't have disability insurance, and some of the incredible options available out there.
Frequent Questions About Short Term & Long Term Disability Insurance
Insurance can be complicated and confusing. We’re here to help answer your most common questions about short term and long term disability insurance coverage.
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Short-term disability insurance is a type of coverage that provides income replacement for a limited period (typically up to six months) when you are unable to work due to illness, injury, or other qualifying conditions.
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Long-term disability insurance is designed to replace a portion of your income for an extended period, often until retirement age, if you are unable to work due to a severe illness, injury, or disability.
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To qualify for benefits, you usually need to meet specific criteria set by the insurance policy. This typically includes providing medical evidence of your disability and complying with any waiting periods or elimination periods.
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The amount of income replacement varies but typically ranges from 50% to 70% of your pre-disability income. Your policy's terms and conditions will specify the exact percentage.
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Employer-provided disability insurance is a valuable benefit, but it may not always cover all your needs. It's advisable to review your employer's policy and consider supplementing it with additional coverage if necessary.
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It's best to consider disability insurance when you're healthy and employed. Waiting until you have health issues can make it challenging to qualify for coverage.
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The choice between these two types of insurance often depends on your specific needs and circumstances:
If you're concerned about covering shorter-term expenses during a brief absence from work, short-term disability insurance is a good fit.
Long-term disability insurance is essential for protecting your income over the long haul, especially if you have dependents or significant financial obligations.
Many people opt for a combination of both policies to ensure comprehensive coverage.
More Coverage Options
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Long Term Care Insurance
Protect your savings and assets from the potentially substantial costs of extended healthcare services and nursing home care as you age.
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Life Insurance
Secure your legacy with comprehensive life insurance solutions for you and your family.
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Retirement Planning Insurance
Safeguard your financial future, ensuring a comfortable retirement by protecting your savings and income during your post-work years.
Kind Words from Our Customers:
Welcome to the Family
As a Manna Insurance customer, you are not just a number to us. We see you as part of our family and all that goes with being part of the #MannaFam.