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disability insurance Archives

Exploring the basics of disability insurance

People have health insurance to cover their medical expenses when they are injured or ill. However, what happens when a person becomes disabled and cannot earn an income for a significant period of time? It won't take long for a person to burn through their paid sick leave and vacation time. Health insurance covers medical expenses, but it does not reimburse a person for the income lost when a medical condition keeps a person from working for an extended period of time. That is when having another type of insurance is important: disability insurance.

Insurance can be a boon to the many people with a mental illness

Those who suffer from a mental illness often suffer in silence. Not only is there a stigma attached to having a mental illness, but it is usually no physical monikers that allow others to see that a person has a disabling mental illness. However, a significant number of disabilities fall into the category of mental or behavioral illnesses.

Why might one want short-term and long-term disability insurance?

Many times, when a person starts a new job or even if they've been in the same position for a while, they are fortunate to be offered a variety of job benefits by their employer. It can sometimes be confusing to determine which benefits are worthwhile, and which a person can make do without. Some benefits that could prove to be very valuable are short-term disability insurance policies and long-term disability insurance policies.

What is the process for pursuing disability insurance benefits?

When a person becomes seriously injured or ill, and cannot work for an extended period of time, they may be very thankful if they have disability insurance through their employer. These benefits can provide policyholders with the compensation they need to make ends meet until they can go back to work. However, in order to obtain such benefits, they will first need to file a claim with their insurer.

What advantages do some disability insurance policies offer?

Insurance is a part of life for most people in our nation. One type of insurance that many people do not take out but can be very beneficial is disability insurance. It is important for workers to know what a good disability insurance policy looks like, so they can decide whether to take advantage of this important benefit.

Don't overlook the benefits of disability insurance

Some employees may recognize that certain benefits offered by their employer are important, but they still may pass them up in favor of other things. For example, according to one survey by an insurance company and financial services organization, 65 percent of respondents did believe that people in general should have disability insurance. However, only 48 percent of respondents stated that they personally should carry such an insurance policy. And, a mere 20 percent of respondents reported that they in fact did have a disability insurance policy.

Insurance coverage and cancer: What women need to know

Everyone has the right to get back to feeling like themselves after a cancer diagnosis or resulting disability, but women, in particular, may face insurance obstacles, including obstacles with disability insurance. Here are a few things you might not know about insurance coverage and cancer.

What should be disclosed to those with disability insurance?

A person's employer might offer that person a variety of benefits as part of being employed. One of these benefits is disability insurance. While disability insurance can be very useful, some people may not know much about how such a benefit operates. However, under the Employee Retirement Income Security Act (ERISA) those who administer disability insurance plans are required to provide policyholders with a written account of the facts about the disability insurance plan, including the rules of how the plan is run, financial details about the plan and what documents are needed in order for the plan to operate.

Don't overlook the benefits of disability insurance

Most people are glad to have health insurance benefits through their employer. After all, it is pretty easy to assume that sooner or later a person might become ill or injured, necessitating a trip to the doctor's office or hospital. If a person has health insurance, they can rest easy knowing that at least a portion, if not most, of their medical expenses will be paid through their insurance policy.

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