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Planning to have a baby? Consider a short-term disability policy

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Family leave time has been a hot topic for a while now, and it is becoming more so as the 2016 presidential race heats up. As many of our readers know, the U.S. is the only country that doesn't require employers to provide paid maternity leave.

Although California's family leave laws are more generous than those of many states, employers aren't required to provide paid leave for women (or men) to take time off for a new child.

That's why if you are planning to have a child, it may be a wise idea to consider getting short-term disability insurance. It's important to note that the coverage has to be in place before the child is conceived. Most plans need to be in place nine or 10 months prior to the birth. Otherwise, the pregnancy is considered a pre-existing condition, and therefore, not covered.

A short-term disability policy will help pay most of your income (generally two-thirds of your salary) while you're taking time off before or after the baby is born. It will also help cover medical expenses. Since you never know whether there will be complications, this can be a substantial help at a time when you're already dealing with the expenses that a new child brings.

If you already have a short-term disability policy, it may well cover pregnancy. It's a good idea to check on that if you're planning to have a child.

If you're going to expand your family, it's understandable that you may not want to add yet another expense to your budget. However, a short-term disability insurance policy can pay for itself and then some by providing you with income and covering medical care during and after your pregnancy. Perhaps more importantly, it can help you take the time you need to bond with your new little one.

Source: EverydayFamily, "Before You Conceive: Get Disability Insurance for Maternity Leave by Angela Heidt," Angela Heidt, accessed Nov. 05, 2015

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