Disability Insurance

Disability insurance protects people and their families from monetaray hardship when illness or injury prevents them from earning a living. Many employers present some disability insurance coverage to employees, or you can buy a specific disability insurance policy.

Disability Insurance
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Types of Disability Policies

There are two types of disability policies:

Short-term disability policies have a maximal benefit for two years.

Long-term disability policies have benefits that can last the rest you will ever have.

Employers may offer short-term disability insurance, long-term disability coverage, or perhaps integrate both these as part of a competitive employee rewards package. When purchasing person disability insurance plan, you should ask:

How is disability defined?

When do benefits commence?

How long do rewards last?

What dollar amount is promised?

Social Security Disability and Supplemental Security Income Programs

Both programs are administered by the Social Security Administration (SSA), plus they serve as the largest of several federal programs that provide help to people with disabilities.

The Social Reliability disability insurance program pays benefits to you and particular members of your loved ones when you are “insured,” meaning you have worked prolonged enough and paid Sociable Security taxes. The Supplemental Security Income (SSI) program pays benefits predicated on financial need.

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