You may already own the world's best disability insurance coverage.
Many employers offer short term and long term disability insurance plans to their workers. Nearly all of these plans, however, are supplemental or secondary to Social Security disability. Social Security remains the basis for nearly all disability insurance in the United States. It covers nearly all employees who have worked for a substantial length of time. In fact, it is required by law and you cannot easily opt out of it.
If you are covered by Social Security disability insurance, why would you need a private disability insurance policy? Because Social Security is difficult to qualify for - and often requires months or years to be approved. Your disability plan from your own insurance company (or your employer's) may cover you almost immediately and be much easier to start. However, nearly all insurance company policies will require you file for Social Security disability when you start getting benefits. The insurance company's goal here is to switch you off the private insurance and onto Social Security as quickly as possible.
This private disability offers 2 advantages: quicker qualifying and a backup if you never qualify for Social Security benefits.
For millions of American workers who do not have any employer sponsored disability coverage, however, Social Security remains the best option available. And, if you can qualify, Social Security is among the best disability insurance programs in the world. The big advantage is that nearly all workers are covered automatically - just by working.
Remember that Social Security disability (SSD) insurance may expire after you stop working (usually within 4 years after you quit working). Don't depend on Social Security benefits until you make certain you are still covered. The best way to find out? Call your local Social Security office and ask if you are now covered for Title 2 disability insurance. You may also call the Social Security Administration at 800-772-1213.
Finally, be prepared for a possible long and difficult fight to prove your disability. Social Security has one of the strictest definitions of "disability" in existence. Don't depend on the SSA to help you get your benefits. It's up to you - or your legal representative - if you have one. But if you have no other disability options, then Social Security may be your best safety net if you become unable to work and are not yet old enough to retire.
Many employers offer short term and long term disability insurance plans to their workers. Nearly all of these plans, however, are supplemental or secondary to Social Security disability. Social Security remains the basis for nearly all disability insurance in the United States. It covers nearly all employees who have worked for a substantial length of time. In fact, it is required by law and you cannot easily opt out of it.
If you are covered by Social Security disability insurance, why would you need a private disability insurance policy? Because Social Security is difficult to qualify for - and often requires months or years to be approved. Your disability plan from your own insurance company (or your employer's) may cover you almost immediately and be much easier to start. However, nearly all insurance company policies will require you file for Social Security disability when you start getting benefits. The insurance company's goal here is to switch you off the private insurance and onto Social Security as quickly as possible.
This private disability offers 2 advantages: quicker qualifying and a backup if you never qualify for Social Security benefits.
For millions of American workers who do not have any employer sponsored disability coverage, however, Social Security remains the best option available. And, if you can qualify, Social Security is among the best disability insurance programs in the world. The big advantage is that nearly all workers are covered automatically - just by working.
Remember that Social Security disability (SSD) insurance may expire after you stop working (usually within 4 years after you quit working). Don't depend on Social Security benefits until you make certain you are still covered. The best way to find out? Call your local Social Security office and ask if you are now covered for Title 2 disability insurance. You may also call the Social Security Administration at 800-772-1213.
Finally, be prepared for a possible long and difficult fight to prove your disability. Social Security has one of the strictest definitions of "disability" in existence. Don't depend on the SSA to help you get your benefits. It's up to you - or your legal representative - if you have one. But if you have no other disability options, then Social Security may be your best safety net if you become unable to work and are not yet old enough to retire.
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