Staying financially secure during unexpected health challenges

A sudden illness or injury can disrupt your ability to work and without a reliable income, your financial well-being could quickly be at risk. That’s where disability insurance comes in. It provides critical income protection, helping you manage everyday expenses like housing, utilities, and groceries when you’re unable to earn a paycheck.

Without disability insurance, individuals may be forced to draw down retirement savings, sell assets, or take on debt to stay afloat. This can derail long-term financial goals and cause lasting financial strain. Disability insurance protects against these risks by offering a steady stream of income, allowing you to focus on recovery without compromising your future.

Disability insurance isn’t just for rare or extreme situations—it’s a practical safeguard. According to the U.S. Social Security Administration, more than 1 in 4 of today’s 20-year-olds will experience a disability before retirement, potentially requiring time away from work for medical treatment or recovery. Without income protection, that time could have serious financial consequences. Source: SSA Disability Benefits, 2023

Disability Insurance at Missouri State University

Short-Term Disability

MSU offers optional short-term disability coverage to full-time employees, with two plan choices to fit varying needs:

• Option 1: 15-day waiting period for both accidents and illnesses
• Option 2: No waiting period for accidents and an 8-day waiting period for illnesses

Employees may elect weekly benefit amounts ranging from $100 to $2,000, not to exceed 60% of salary. Benefits may continue for up to 26 weeks, depending on medical necessity, and are paid in addition to any available sick or vacation leave. This short-term coverage also helps bridge the gap to MSU’s long-term disability benefit.

Enrollment in short-term disability is only available within 30 days of hire or during Open Enrollment (Nov. 1 – Dec. 1).

Long-Term Disability

All full-time employees automatically receive employer-paid long-term disability coverage. This benefit ensures continued income protection if you’re unable to return to work for an extended period due to serious health conditions.

By offering both short- and long-term disability coverage, MSU supports employee financial security and peace of mind during life’s unexpected challenges.

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