by Guest » Fri Mar 03, 2006 04:40 am
What is disability insurance?
Disability insurance is a means to protect your income even when you are not in a position to go to work temporarily. This insurance saves up for the time when you are unable to work due to any serious injury or a medical condition and hence cannot generate income.
Related reading:
Disability Insurance: Policy that minimizes financial loss
Related reading:
Disability Insurance: Policy that minimizes financial loss
How can you benefit from Social Security Disability Insurance (SSDI)?
Social Security Disability Insurance replaces part of your income when you are unable to work due to a disability.
Related reading:
Social Security Disability Insurance (SSDI)
Related reading:
Social Security Disability Insurance (SSDI)
What does disability insurance cover?
Disability insurance compensates your salary partly when you are unable to generate income due to a medical condition that makes you disable either permanently or temporarily.
Related reading:
disability coverage - is it really important?
Related reading:
disability coverage - is it really important?
What is short term disability?
If you are injured or taken ill for a specified period of time and cannot go to work, short term disability benefits fill in. Benefits can be received after a waiting period that is fixed by the insurance company.
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Short term disability insurance?
Short term disability insurance questions!
how will not returning to work effect my short term disability?
Are there any short term disability available?
Related reading:
Short term disability insurance? Short term disability insurance questions! how will not returning to work effect my short term disability? Are there any short term disability available?
What is long term disability?
Long term disability insurance provides benefits that may range from a few years to the rest of your life because you suffer from a medical condition that renders you unable to work for the rest of your life.
Related reading:
long term disability insurance
Related reading:
long term disability insurance
How are disability insurance premiums determined?
Premiums for disability insurance are primarily based on your age, sex, occupation and the amount of income you will have lost during the tenure of your disability. If you have higher chances of injury your premium will automatically be high.
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Related reading:
Is pregnancy considered a disability?
Not all states consider pregnancy as a disability. You can still work if you are pregnant. Almost all companies have maternity leaves to allow the mother to take care of her and the child in the crucial moment.
Related reading:
Pregnancy disability benefits
Related reading:
Pregnancy disability benefits
Guys, for the past couple of months my wife is stressing on me to get a disability coverage for myself. Now I would like to ask you a truely relevant question. Is disability Insurance coverage a priority amongst all your other insurance coverage?
Regards.
Regards.
Posted: Fri Mar 03, 2006 08:27 am Post Subject: a priority
My Friend,
I firmly believe that Disability insurance should come as a priority in your life today. This is quite certain since your life itself gets directed by your ability to earn and then meet the needs of your daily life. Incase you don't earn, it would not take much time for you to exhaust your savings, properties and finally turn insolvent. Its much better to take a job worth $98,000 a year paying you as long as you are disabled, rather than a job worth $100,000 a year flat. It is advisable that you take the former than the latter.
Posted: Fri Mar 03, 2006 11:39 am Post Subject: Re: I am in a fix
I am involved in selling of Disability Insurance to my clients for long. It seems quite reasonable to get associated with an organization that takes care of both your health and unforeseen disability . A job worth $98,000 a year would ensure a tax-free coverage worth $58,000 a year for any such occurrence of you getting disabled. Just as Life Insurance plays a key role in supporting your family when you are not there, likewise Disability Insurance guides them through their tough times even when you are very much a part of that crisis.
Ross.
Posted: Fri Mar 24, 2006 05:20 am Post Subject:
depends on many factors. insurance is a complete waste of money until you need it...i personally sleep better at nite knowing i have it b/c you just never know.
my thought is have a savings for at least 2-3 months expenses. most short term di will take a while to get paid and they dont pay 100 percent anyway. also the longer the elimination period the cheaper. short trem is can get expensive b/c most disabilities are 0-90 days. also if you dont want to pay the expense of short term di, get long term...its usually cheap and you can self insure the gap before the long term picks up.
i recommend having it, I was 22 yrs old fresh into insurance when I fractured my knee in a freak accident. I was out for 4 months, new job and new marriage, i didnt think i needed disability ins, and no money was tough. educate yourself and shop around. hope my 2 cents was helpful.
Posted: Fri Mar 31, 2006 08:00 am Post Subject: just wanna add to you !
I could empathize with your view towards life ! I understand that the probability of filing a claim is more with your other insurance policies...
But disability insurance is none the less important because of the overall effect it brings at the occurrence of such an event that might turn a person physically inactive for good !
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