Whether you are an employer seeking short-term disability coverage for your employees or an employee independently trying to find a policy for yourself, you will need to know where to look for these policies and the short term disability insurance cost. Not every insurance company offers this sort of coverage. Since these policies are not regulated equally in every state, finding short-term coverage is not as easy as finding a policy for your car or your general health.
The list below contains the names of some of the most highly rated carriers of short-term disability insurance. The list is not exclusive and it should not discourage you from looking further for other companies. These companies, however, are financially strong, offer numerous options in their insurance products and already have established reputations as excellent and reliable carriers.
Companies That Provide Short-Term Policies for Disability
American International Group (AIG)
AIG operates in 130 countries and jurisdictions around the world. This sort of size is reassuring when you are paying for a policy because you know that they can and will pay on properly filed claims. If you live and work in the United States, then choosing this company will put you in the hands of the country's largest underwriter of both commercial and industrial insurance. Besides offering disability coverage in the short-term, AIG also provides long-term coverage for serious disability.
Boston Mutual
Boston Mutual is a long-lived company that has been around since 1891. When you take out a policy with a business that has been around so long, you can count on their reliability. Some of the most respected reviewers of insurance companies believe in their trustworthiness. Standard & Poor's, Moody's and Fitch have all rated Boston Mutual as one of the best in the insurance business in general. They offer short-term accident and sickness policies that you can add independently to your insurance coverage.
The Hartford
The Hartford is another top-rated company that has received accolades from Standard & Poor's and Moody's. They offer a wide range of insurance products that you can integrate with a short-term policy. These other products include long term disability (LTD) and workers' compensation. You can also just select your short-term coverage through them.
Mutual of Omaha
Mutual of Omaha has over 100 years of experience in providing insurance to a variety of customers. They have consistently earned strong ratings from Moody's and Fitch. This company offers policies that employers can manage for their employees and they also offer voluntary policies that employees can seek on their own.
Unum
A Fortune 500 company, Unum provides products and services that cover a variety of insurance situations, among them short-term needs for income during disabilities that do not qualify for long-term coverage.
The Cost of Short-Term Coverage for Disability
The cost of this coverage will vary from company to company. You should take advantage of the Internet and make a quick comparison of prices. Remember to examine all the features of such coverage. There are many different issues to consider when you pay for this sort of coverage. Monthly premiums are only one aspect of insurance that you should contemplate. You should also investigate how much each policy will pay, for how long and whether premiums will be taxed or payments will suffer taxation later.
The cost of these policies will also be affected by how well you handle the bureaucratic red tape. This is another issue which you should examine before you buy the policy. When injuries and illness have occurred, in your own life or that of your employee, you would probably prefer to think about the paperwork as little as possible. By reviewing the effectiveness of a policy before you buy it, you can save yourself a lot of trouble later on when an accident or an infection are the foremost problems in your mind.
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