, ,

Short-Term Disability Insurance Comparison: SafetyNet™ Vs. Aflac

Comparing short-term disability insurance: Aflac vs. SafetyNet

Disability is a personal matter, with circumstances that are unique to each of us. Your short-term disability insurance should be, too. When comparing options for short-term disability insurance, the more you know about your own challenges and preferences, the better able you will be to choose the option that’s right for you.

Both SafetyNet™ and Aflac offer short-term disability insurance to help you through a tough time. But how they help and the costs differ so it’s important to look closely at what each plan has to offer.  To get you started, you’ll see below a very high-level comparison of several key features of these insurance plans.  The comparison is based on existing product descriptions and advertising.  Since offerings can change over time and can vary from place to place, before making a purchase decision, you’ll want to study the specific plans currently available to you in your area by visiting the SafetyNet™ and Aflac websites or by calling one of their representatives.

WHEN COMPARING AFLAC AND SAFETYNET, ASK YOURSELF THESE QUESTIONS:

What kind of income loss insurance am I looking for?

Do I want to be protected only in the event of a disability or do I need coverage for other instances leading to income loss?

SafetyNet

Aflac

SafetyNet protects you against short-term disability AND job loss.

 

Aflac protects you against short-term disability.

 

 

How do I get access to the coverage? 

Does my employer offer me the option to purchase this short-term disability insurance?  If not, is the coverage available to me directly?

SafetyNet

Aflac

SafetyNet is available to you by direct online purchase and does not require your employer’s  involvement. Aflac is available to you only if your employer has chosen to offer it to you.

 

How much of an insurance benefit (payout) do I want to receive?

Are there restrictions on the amounts available to me?

SafetyNet

Aflac

You choose your lump sum benefit amount from the specific options offered.

 

You choose your monthly benefit amount from the specific options offered, subject to certain income restrictions.

 

In the case of disability, how do I want to receive the insurance benefit (payout)?

Will receiving my benefit in installments help me budget my income, or do I want it to arrive in one lump sum to do with it as I please? If I prefer installments, for how long do I want to receive the benefit?

SafetyNet

Aflac

SafetyNet pays the benefit all in one lump sum as soon as your claim is approved. Aflac pays you a benefit in monthly installments after your claim is approved, subject to any waiting period requirements.  Benefits may be paid for up to 12 months depending on the plan you choose but will stop or reduce earlier if you return to work.

 

How much does the insurance cost?

If the cost can vary, what things affect the cost of the insurance?

SafetyNet

Aflac

The cost depends on the lump sum benefit amount you choose; plans are flexible so that you can find the right level of protection for you. The cost varies depending on the monthly benefit amount you choose, the benefit period you choose, the elimination period you choose, and other product features you choose. Personal factors like how old you are, what you do for a living, how much money you make and where you live may also affect the cost of the plan. To get an exact cost, you’ll have to contact Aflac to give them some information about yourself and to make some coverage choices. However, to give you some idea of the cost, here’s an example Aflac published in one of its advertisements – For an 18- to 49-year-old man whose annual income is $20,000, a plan that pays a $1,000 monthly benefit for up to 3 months with an elimination period of 0/7 days costs $8.17 per week (or about $32.68 a month).

 

 

Will my short-term disability insurance cover my pre-existing conditions?

Have I seen a doctor in the past 6 to 12 months for a condition that might impact my disability coverage?

SafetyNet

Aflac

Pre-existing conditions are not covered. SafetyNet says a condition is pre-existing if you saw a doctor for it any time during the 6 months before purchase. SafetyNet applies this limit for 6 months after purchase.

 

Pre-existing conditions are not covered.  Aflac says a condition is pre-existing if you saw a doctor for it any time during the 12 months before purchase.  Aflac applies this limit for 12 months after purchase.

 

What if my disability still allows me to work part-time?

If my disability impedes me from working full-time but I am still able to perform my duties some of the time, will I still receive benefits?

SafetyNet

Aflac

SafetyNet pays when you are totally disabled and unable to perform all the essential duties of your job. Aflac pays when you are totally disabled and unable to perform all the essential duties of your job but may also pay a partial benefit if you are only able to work part-time due to a covered disability.

 

MAKE THE CALL FOR SHORT-TERM DISABILITY QUESTIONS:

Choosing the short-term disability plan that is right for you is important. If you have any question about either of these insurance programs, check out their website or call one of their licensed insurance representatives.

SafetyNet

safetynet.com
Phone: 855.855.9695
Email: [email protected]

Aflac

www.aflac.com
Find an agent near you: Click here

DISCLAIMER:  THE ABOVE COMPARISON IS BASED ON INFORMATION FOUND IN SAFETYNET AND AFLAC ADVERTISING MATERIAL.  THIS COMPARISON IS VERY HIGH-LEVEL AND IS DESIGNED ONLY TO GIVE YOU A START IN COMPARING THE PRODUCTS.   THE EXACT FEATURES OF THE PLANS AVAILABLE IN YOUR AREA MAY VARY FROM WHAT IS DESCRIBED ABOVE.  YOU SHOULD INVESTIGATE MORE FULLY THE DETAILS OF THESE PLANS AND OTHERS AVAILABLE TO YOU BEFORE MAKING A PURCHASE.