Disability Insurance

Disability Insurance results in income paid to you weekly or monthly when sickness or injury puts you out of work. Payments provided may be a percentage of income or as a fixed dollar amount. The policy clarifies how much you will be paid, how soon after you are disabled that payments begin to appear in your mailbox, and when they will cease.

Benefits periods may depend on whether the disability was caused by an accident or illness. The longer the benefit period, the higher the premium will be.

There many different kinds of disability contracts. Some plans are available from your employer through its group health package and from private insurers. Social Security and some State Disability Insurance programs are some public sectors you can consider. Veterans, members of the armed forces, federal civil servants and coal miners are also covered by federally-sponsored programs.

Worker’s compensation can also be filed through your local unemployment agency if you are sick or got hurt on the job.