Preferred Financial Group

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"Can I Afford Short-Term Accident & Illness Disability Insurance?"


This policy offers features between what is offered by Accident Only and Long-Term Accident & Illness disability insurance. Since Accident Only is considered to be the least expensive and Long-Term Accident & Illness the most expensive, it is no surprise that Short-Term Accident & Illness is somewhere in between. The charts below provide illustrations of varying premiums based on tailoring a policy by selecting the Monthly Benefit period, Elimination Period and/or Benefit Period.


As evidenced by the charts above, the cost of securing a Short-Term Accident & Illness Disability Policy is within most people’s financial reach and as such it should be a consideration in a family’s overall financial plan. However, as the name implies, Short-Term Accident & Illness Disability policies only provide a monthly benefit for a maximum of 24 months. While this is satisfactory for many situations, it may not be for others. If your disability extends beyond your benefit period (3 months to 24 months), your coverage will cease and you will have to look to income replacement from other sources.