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Disability insurance for maternity leave/childbirth
Posted on 4/25/20 at 7:43 pm
Posted on 4/25/20 at 7:43 pm
If my wife and I are going to start trying for a child, are there companies that offer disability insurance that pays out for pregnancy? My wife's company only offers maternity leave once every 8 years so we are looking to see if there is an insurance option that would pay out 6 weeks post delivery.
7
Posted on 4/25/20 at 7:59 pm to BlueChips
Company I worked for in the past had that option. Think it was AFLAC.
This post was edited on 1/31/21 at 10:53 am
Posted on 4/25/20 at 10:16 pm to BlueChips
Yes. Ton of companies do.
Please pay attention to waiting period.
Get the lowest you can find (14 day or 30 day).
Policy won’t pay a dime during that period.^^^
Please pay attention to waiting period.
Get the lowest you can find (14 day or 30 day).
Policy won’t pay a dime during that period.^^^
Posted on 4/26/20 at 6:26 am to BlueChips
She might want to stay home for several years.
Strangely, that might actually save money for you with the costs of childcare.
Strangely, that might actually save money for you with the costs of childcare.
Posted on 4/26/20 at 9:01 am to BlueChips
Here is a page on the issue from Northwestern Mutual.
Will Short-Term Disability Insurance Cover My Maternity Leave?
It doesn't last forever, typically just 6 or 8 weeks.
Will Short-Term Disability Insurance Cover My Maternity Leave?
It doesn't last forever, typically just 6 or 8 weeks.
quote:
Short-term disability policies pay a weekly benefit when you are disabled following the elimination period. You may wish to take three months off work to bond with the baby, but the short-term disability insurance policy will only pay benefits if you are disabled due to the pregnancy.
The typical timeframe you are considered disabled following delivery of the baby, without complications, is six weeks; eight weeks if a C-section was performed. Benefits may be paid prior to delivery of the child if your doctor has put you on bedrest due to the pregnancy.
Posted on 4/26/20 at 9:32 am to BlueChips
There are but I've found that the monthly premium doesn't make sense unless it's perfectly timed.
The plans that I found had a 10-month exclusion, obviously. So if you sign up today and go into pre-term labor...no payment.
I also found the break-even to be 15 to 17 months. So if it takes y'all any longer than 6 months to get pregnant...you've paid more into premiums than the disability payment.
For these reasons, we just decided to self-insure.
The plans that I found had a 10-month exclusion, obviously. So if you sign up today and go into pre-term labor...no payment.
I also found the break-even to be 15 to 17 months. So if it takes y'all any longer than 6 months to get pregnant...you've paid more into premiums than the disability payment.
For these reasons, we just decided to self-insure.
Posted on 4/28/20 at 1:17 pm to BlueChips
(no message)
This post was edited on 1/11/21 at 1:59 pm
Posted on 4/28/20 at 10:39 pm to BlueChips
Look for hospital indemnity policies as well. They pay out for hospital stays, and $X per night of stays. Our Employer offered it through AFLAC.
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