Disability Insurance Information
We use insurance to protect a host of assets, from cars to homes to jewelry. Unfortunately many people forget to insure their most important asset — the ability to work and earn a living. If disease or injury renders you disabled early in your working life, the lost wages can be worth much more than a house or a car.
The good news is that if you don't have insurance and get hurt or ill, you aren't doomed. The Social Security Administration provides some form of disability benefits as a safety net. This however it is hardly enough to live comfortably and there is a complex eligibility process.
For many families, the prospect of losing just a few months' income or living on half the paycheck is not an option. If this sounds like you, it makes sense to seek out disability insurance to protect yourself. Benefits Square and our team of professionals is here to help.
What are the types of disability insurance?
There are two types of disability policies: Short-Term Disability (STD) and Long-Term Disability (LTD):
Short-Term Disability policies (STD) have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.
Long-Term Disability policies (LTD) have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.
For more information write or call today and we can answer any questions you might have about Disability Insurance.
While you are taking good care of your employees, find out how to do the same for your business here.