Disability Insurance: The Key For New Moms Financial Protection

Insurance have always been an effective way to protect oneself during situations where people become vulnerable. There are many kinds of insurance but with Mother’s Day nearing, it is best to highlight the issue concerning working new moms and the role insurance disability Syracuse plays to protect them financially.
According to Unum, out of all the new moms that will give birth this coming Mother’s Day, about only 10 percent of them will receive maternity benefits because of their short-term disability leave.
It is estimated that about 4 million babies are born every year and two-thirds of these 4 million are born to working mothers. When working mothers get pregnant, about only half of them will be able to receive a paid maternity leave in varying forms. But the sad truth to this is that the other half, or more than 40 percent of them, will not receive the same benefit.
Mothers who are in the work force will be able to enjoy paid maternity leave if they apply for a short-term disability leave wherein they will receive benefits that come with it including a paid leave. Unfortunately, only 10 percent of maternity leaves are covered by short-term disability benefits.
The U.S. leading group short term benefits provider, Unum, has been keeping track of issues concerning disability insurance and according to them, about 28 percent of their group short term disability claims are related to maternity and about 64 percent of short term disability requests are from maternity claims from the youngest working generation today.
Unum says that paid leave for short term disability may only cover for as long as six to seven weeks but new mothers may still be able to apply for an unpaid leave. They said that only 26 percent of working moms are enrolled in a plan concerning short term disability in their field of work.
Unum says that they see the importance of the benefit that disability insurance gives to women because majority of female workers are not protected by the coverage of short term disability and this could put these women and their families at a disadvantage and exposed to financial risk.

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