Posts Tagged ‘Disability Insurance for Maternity’

Disability Insurance for Maternity

Knowing that you are pregnant could be very good news to you and at the same time it could be a worry for some families especially where your income is an important way to support the family. It is true that pregnancy mars your income earning capability to some extent and till now there was hardly any way you could make up for it. But now you have the disability insurance for maternity scheme that helps you to compensate for all the income you lost out while being away on maternity leave.

What is Disability Insurance for Maternity?

Maternity leave or family medical leave can be availed by a parent when they are expanding their family either by giving birth to a child or by adopting one. You can avail as much as 6 weeks of leave under this category though you will be not paid for this length of time you are away from your office. However, you can get paid for such leave only under two conditions – if you have lots of paid leave left and secondly if you are covered under short term disability insurance scheme. This insurance is actually a way to cover your salary or at least a portion of it should you be unable to work due to different conditions like illness, injury or in your case – childbirth. You can avail such insurance to be funded from your payroll directly as well.

What does it cover?

The disability insurance for maternity insurance can be availed by a person and filled up by the monthly salary directly from her company. Such an insurance contract will cover up for your loss of salary. It could give you a cover that could range from nearly 50% of the salary to 100% of it. The coverage you get can be determined at the time you purchase such insurance or also by other conditions related to this. Usually, prior to your delivery, such insurance will cover nearly half of your salary. This coverage can also be extended based on the medical need with doctor’s proper documentations. This is especially possible in case of you needing a c-section. Normally such insurance will cost you something in the range of 1% to 3% of your annual salary. Also such insurance can cover all types of disability related with pregnancy like morning sickness or an advice by doctor to remain in bed and even c-sections recovery period time as well. Make sure that you get a policy that covers all aspects of pregnancy needs.

Who is eligible for it?

Any woman can purchase disability insurance for maternity coverage before she becomes pregnant.

What are the conditions?

Make sure you apply for this policy before you get pregnant. Though pregnancy is considered as a ‘pre-existing’ condition, most insurance companies will not be ready to cover your existing pregnancy term when you apply for such insurance. Also most insurance packages provide to make up for the loss of your income for a limited period of time only like six weeks maximum.

By planning ahead before you go for expansion of the family and buying short-term disability insurance scheme, you can make up for such loss of income without any worries at all.