What is short term disability

Short-term disability benefits may continue for up to 24 weeks. The benefit is administered by Unum. Short-term disability provides a no-cost base coverage, which is paid for by Vanderbilt, and buy-up coverage, which is paid for by the employee.

The base portion pays Costs for the buy-up depend on your annual salary. You may opt out of the buy-up coverage at any time. If you wish to re-enroll in the buy-up coverage at another time, you will be subject to medical review and you could be denied. Automatic enrollment in the base and buy-up enhanced short-term disability plan occurs on the first of the month after your hire date.

You may waive the employee-paid buy-up short-term disability coverage at any time by going to My VU Benefits. The cost is 0. Disability insurance pays benefits directly to you, so you can cover your expenses with no limitation on how the money can be spent.

While every policy is different, the two main differences between long term and short term disability policies are the length of the benefit periods and the level of coverage each type of policy offers.

This period is called the benefit period. As the name indicates, short term disability insurance is intended to cover you for a short period of time following an illness or injury that keeps you out of work. While policies vary, short term disability insurance typically covers you for a term between months. On the other hand, long term disability is intended to provide benefits for a longer period, and benefit periods for long term disability insurance are usually stated in years: 5, 10, 20 or even until you reach retirement age, depending on your plan.

To decide how what level of coverage you would need, calculate your monthly expenses, and consider additional medical bills you may have to pay if seriously sick or injured. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team. Read our editorial standards.

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Car insurance. Life insurance. Best cheap car insurance. Best life insurance companies. Best homeowners insurance. The best renters insurance. Average cost of car insurance. Average cost of life insurance. How long is short-term disability? Short-term disability elimination period Short-term disability insurance includes an elimination period , meaning you have to be injured or disabled for a certain amount of time before your benefits kick in.

Long-term disability. Severe health conditions. How to apply for short-term disability For employees, the first step in applying for short-term disability is to contact you—their human resources department. Find out how ALEX boosts benefits understanding and saves you time and money. Learn more. October 7, 7 min read.