Disability Insurance

• Do I need disability insurance?
• How much of my income can I insure?
• If I return to work part time will I receive any benefits?
• How long will I have to wait before my benefits begin?
• How long will my benefits last?
• Who determines if I am disabled and eligible for benefits?

How much of my income can I insure?
Most Disability Insurance Plans will reimburse up to 60% - 70% of your earned income.

If I return to work part time will I receive any benefits?
That depends of the type of policy and the specific contract provisions of that policy, a good policy will pay a partial benefit if you have at least a 20% or greater loss of earnings.

How long will I have to wait before my benefits begin?
Most policies will either be a Short Term Policy with a relatively short waiting period, i.e. days or a Long Term Policy with a longer wait, i.e... 90 days.

How long will my benefits last?
Short Term Disability Policies usually pay benefits for up to 6 months or 1 yr. Long Term Disability Policies will often coordinate with Short Term Policies and pay up to age 65.

Who determines if I am disabled and eligible for benefits?
Each company has its own test. Be sure to read the definitions of disability and how you qualify to receive benefits. All policies will require you to be under a physicians care and that you meet the specific qualifications of their contract.