FDP Insurance talks short term disability
Quite few times in the past I have had people call me to buy short term disability insurance- hoping it would cover a symptom that has already been diagnosed-
It doesn’t work that way – short term disability normally has a 12 month waiting period before you can collect. Short term disability insurance pays out on an issue that you have not been treated for in the last 12 months. That means if the doctor told you you need a knee replacement that you may not collect for at least 12 months, if your allowed to collect at all because its a known condition- insurance companies want to help you protect your pay check -but cant have someone buy insurance- collect 2 months later and 6 months later cancel the policy.
I did a disability policy for a woman that had depression issues and had been on medication and stabilized for 10 years- the policy came back and said they would cover anything but the depression causing job loss- the insurance companies says the depression is a known condition- the insurance company cant make sure the insured continues to take their medications- so they will cover everything but the depression. The insured accepted the policy as it was.
I spoke to another person – during the application process the subject of carpal tunnel syndrome came up- she said she had carpal tunnel syndrome- I asked if she had ever had an operation for carpal tunnel- She said NO- I asked if she was taking medication for the carpal tunnel -she said NO – I asked if the doctor had ever diagnosed the carpal tunnel – she said No- So i said “then you don’t have carpal tunnel” just because a wrist gets sore on occasion doesn’t mean you have carpal tunnel- and if 2 or 3 years it does evolve into carpal tunnel – then you don’t want a claim denied because you thought you had it a few years earlier.
Short term disability can help protect all your savings from having to be spent and depleting your bank account- but you have to get it ahead of time- Not when you need it in 4 weeks- (unless a major accident happens- then it would normally cover you)
If you need quotes for short term disability feel free to call. 617 680 7063
I have one policy that may cover maternity leave if the babies delivery is over 12 months after buying the policy.
