What Is Disability Insurance?
Disability often comes with a price. If you are unable to work because of a disability, you are suddenly strapped with the need to pay for medical care on top of your daily expenses and monthly bills. It can be difficult to live comfortably when you are contending with a disability.
That's where disability insurance comes in. Read on to learn more about the benefits associated with disability insurance.
What Does Disability Insurance Cover?
Disability insurance covers a percentage of your salary, and it essentially replaces the money you take home from work. You will receive a predetermined period during which benefits kick in. You will not receive the full amount of your salary with insurance, but it will provide you with some money to cover your daily life.
What Injuries Does Disability Insurance Cover?
Several types of injuries are commonly associated with disability insurance. You may be eligible for benefits if you have suffered mental impairments, musculoskeletal issues (like back injuries and arthritis), cancer, infectious disease, diabetes, and other injuries and illness. In some cases, the injuries and illnesses are life-threatening and ultimately even fatal.
Age often has something to do with a disability. Many people who collect on disability insurance are over the age of 50. These people tend to have injuries related to work as the body ages and may experience a variety of other issues.
Individuals who are on disability insurance for a specific period of time may also become eligible for government-funded healthcare, which can relieve the burdens associated with paying healthcare costs when you are unable to work.
What If You Can't Afford Disability Insurance?
If you find that private disability insurance is too expensive, you have other options. One possibility is to consider Social Security disability insurance services, also known as SSDI. SSDI does have some strict requirements to meet, and individuals with short-term injuries and disabilities may not be eligible for insurance.
You may qualify for Social Security benefits if you are over the age of 18 and will be unable to work for at least one year. An application process is available on the web, but not everybody is able to sign up this way.
If something happens that prevents you from being able to receive these benefits, you may need to discuss your case with a disability or Social Security attorney to sort things out. You may need legal representation to ensure you receive the benefits you deserve.