Wednesday, August 1, 2007

Disability coverage

What else do I need to know about disability coverage?

There are employers who offer disability insurance to their employers. It is recommended for you to find out about offerings of your employer beforehand. You should ask about your benefits that you will receive for your disability coverage. You should ask your employer if he includes other benefits in the disability plan like Social Security.

It is not required by law to offer long-term disability coverage. Nevertheless, most employers offer LTD to their workers. Long-term disability benefits cover 60% of the employee's salary. Before long-term disability benefits, an employee is eligible to get short-term benefits for the five year period. Long-term benefits are paid fully by employers.

While you will be receiving your employer-paid disability income, by law you will be required to pay for federal and state income tax on the benefits.

As the statistics show, every year 12% of the adult US population suffers a long-term disability case. For every disabled person, there are physical needs that should be met. Financial pressures would rise for a person suffering with disability.

That's why an employee who suffers disability can be offered disability insurance by his employer. Disability insurance will help and provide a life for a working disabled employer.

If you feel you do not have enough money to live, you should apply for disability insurance and there is a high chance you will be qualified for it. The benefit of that disability insurance is that you will get 50% to 60% of your monthly earned income before taxes.

If you are qualified for disability while working, you can be already receiving disability insurance automatically. Social Security is disability income also.

It is not easy to be qualified for Social Security benefits. According to statistics, more than 80% get rejected in their application for Social Security benefits. The appeal process could have been made through lawyers and maybe there could be luck for getting it.

To know more about what Social Security can offer, you can check more on the Social Security Web site. The benefits for Social Security do not cover even for the basic living.

You could be applying for social security disability only if you were working a long time under social security system.


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