Insurance Tips For Your Hiatus Or Sabbatical
Are you about to take a sabbatical or extended hiatus? Taking a well-earned break can be a wonderful thing. It’s an amazing opportunity to pursue a passion, travel the globe or just stop for a bit and enjoy the world around you.
Feel excited as you take on this new opportunity. Below is a guide with helpful info that anyone taking a sabbatical or hiatus may want to take into consideration.
What To Consider As You Plan Your Break
- Check with your employer to see what kind of pay you’re eligible for (if any) if you take a leave of absence.
- Consider opening a savings account that is dedicated to the money you’ll need while on your hiatus.
- Talk to your employer and see what they need for you to take a sabbatical. Different workplaces can have different approaches, so get the answers you need instead of having to guess what is and isn’t work-friendly.
You can also use this preparation time to figure out the budget you need and look at trimming some unnecessary expenses to help you feel financially secure.
Think About Your Insurance Options
Do you have coverage that matches what you need while you enjoy time away from work? If you have insurance through your workplace, you might want to confirm whether it does and doesn’t provide coverage during your time away.
Taking a hiatus sometimes includes travel, new accommodations and other big life changes. Even if your break is temporary, it’s always a sensible call to explore the coverage options available to you.
Here are some types of insurance coverage worth considering if a sabbatical is on the horizon. Be sure to review the terms and conditions of the insurance coverages you are considering and determine if they provide the coverage you would need during your sabbatical.
- Travel insurance if you’re spending time away from home
- Accident and Sickness health insurance
- Term life insurance