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Before You Conceive: Get Disability Insurance for Maternity Leave
Author: Angela Heidt
It is inevitable that with any pregnancy there are going to be costs involved, at the very least some hospital bills and loss of income while you are recovering from delivering your baby. However, there are several types of disability insurance policies that can provide you with income during your pregnancy and maternity leave. Since the majority of the time the amount you get back more than covers the premium, they are most certainly worth looking into, and they could even save you thousands of dollars.
Please know that for all of these plans, you must have them in place BEFORE conception occurs or else your pregnancy will not be a covered event as it will be a pre-existing condition. Most plans have a 9 month exclusionary policy, and some plans even stretch it to 10 months, so please make sure you know what the exclusionary period of your plan is before trying for you little bundle of joy.
There are essentially three types of disability insurance plans, and some policies can combine two or more different aspects. Here are the types of policies available:
Short-Term Disability for Pregnancy
Approximately 1 in 4 pregnancies experience some type of complication, which may require the pregnant mom to take time off work. This unexpected turn of events can put financial strain on a family, which in turn can put more stress on the mom, which is not good for her or the baby.
Short-term disability plans that include pregnancy protection can give you back up to 2/3 of your income that is lost should you have to leave work early to take care of yourself.
Short-Term Disability for Maternity Leave
Unless you have a great employer who pays maternity leave benefits, you are likely looking at having at least a few months of unpaid leave if you want to spend time with your new baby. On top of this, you will have all sorts of new expenses on top of the regular ones.
A maternity leave disability plan can provide you with 6-8 weeks of income, which can help you stay on top of bills and not worry about finances while you bond with your baby. Additionally, if there are any post-partum complications you can gain extra time off to recover.
Short-Term Disability for Accident & Illness
In many cases a short-term disability plan for accident and illness can also cover pregnancy and delivery events, which can provide you with income protection. Unlike most people, if you are planning on getting pregnant you know you are going to need to use the hospital at some point, so why not get coverage now?
This type of plan will provide you with income to cover any complication or issues that arise as a result of your pregnancy, as well as non-related accidents or illness. It is definitely a good idea, but you have to have this type of coverage in place before you become pregnant, as with all supplemental disability insurance policies for pregnancy.
For more information on supplemental insurance that can help you during your pregnancy and maternity leave, check out this site: http://www.growingfamilybenefits.com/.
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