Although coverage is not available through Aflac, there are other supplemental income options for adopting parents.
Aflac is a leader in the insurance industry and offers several unique forms of supplemental insurance coverage. Businesses and individuals alike rely on Aflac to provide supplemental income in the event of an accident or illness. This type of insurance coverage is ideal for those who either do not pay into a short-term disability plan or who desire overlapping coverage. In order to receive cash payouts from an Aflac policy, you have to be experiencing a qualifying life event. The company currently does not offer coverage for adopting parents looking to supplement their income. Although Aflac supplemental insurance is not an option, adopting parents have other options if they require leave from work while adjusting to the adoption of a child.
Instructions
1. Contact your employer's human resources department to inquire about any benefits your employer offers. Some employers provide reimbursement for adoption-related expenses, including supplemental income benefits for the adoption of a child.
2. Calculate your total accrued vacation and sick time. Because many supplemental insurance carriers, such as Aflac, will not provide coverage unless you physically gave birth to a child, you may have to use your own bank of leave to cover household expenses while you are adjusting to caring for your adopted child.
3. Review the "leave" section in your employer's personnel handbook. This section should outline how leave accrual can be used. Because the needs of every business are different, your employer may have a unique set of guidelines for requesting time off for adoption.
4. Apply for family medical leave. As an employee, you may take family leave for absence from work in order to care for an adopted child. Under the Family Medical Leave Act, you are entitled to take a leave for adoption. This entitlement expires one calendar year from that date of placement. If your employer allows or the state permits you may take a leave that extends beyond this 12-month period. Under most circumstances you can take a total of 12 weeks of leave following the placement of the child. FMLA protects your employment while on leave but is not accompanied by a cash benefit. Your employer may offer a paid medical leave benefit.
5. Visit your local bank branch and inquire about an adoption loan. Adoptive parents can pursue loans to cover expenses related to the adoption of the child. If you obtain an adoption loan, you can use the funds for adoption procedure fees as well as income supplementation.
Tags: your employer, adopting parents, adoption child, supplemental income, supplemental insurance, adopted child
