How long will disability insurance pay if you are disabled for life?
Are you asking about SSDI or a privately held Disability Insurance plan? SSDI will pay for life. If you are talking about DI insurance, it will pay as long as the policy allows. Benefit periods range from 6 mos to age 65 in most cases. You would need to reveiw the policy to see what your plan allowed. Also check the definition of occupation, if it is "any" occ, you may not be collecting as long as you wish. 4lifeguild
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In the US, California, Hawaii, New Jersey, New York, and Rhode Island impose mandatory state disability insurance programs for employees. The purpose of the programs is to pro…vide some protection against wage loss caused by short-term non-work-related disabilities. The insurance premium is submitted to the insurer by the employer but paid either jointly by the employer and the employee, or entirely by the employer, depending on the employer's good will. There are some limits to what the employee may be required to contribute by the employer. This insurance is in addition to two well-known government disability programs: Worker's Compensation and Social Security. Employees' contributions are federal tax-deductible. Simple answer: No. Group Disability Insurance is not like Group Health Insurance -- and all the ERISA regulations that control how this employee benefit works. With Group Disability Insurance, an employer can "carve out" a select group of employees -- meaning the employer can create a "plan for just one employee (himself!)". An employer can also offer a contributory insurance plan, in which case the employee will contribute a certain percentage of premium. Or the employer can choose to offer a voluntary plan, where the employees enroll on their own accord and pay full premium.
If I'm not mistaken, life insurance is paid out on death.. It may have a clause that pays the premiums on it in event of disability, but that, like a policy that pays you on …disability, is basically under a disability insurance benefit, not life insurance policy.
Most individual (non-group/non-employer sponsored) disability policies do not cover routine maternity claims, but there are still companies out there who offer it. What is off…ered can depend by state. So the best way to find out your options is to contact a local insurance broker who works with many different carriers, who can provide you with options and advice. Brokers can be found by going to the National Association of Health Underwriters (www.NAHU.org), the Independent Insurance Agents & Brokers of America (www.iiaba.org), or similar non-profit organizations. If you are an employer, you'll be happy to know that any group disability policy written since 1978 and with a group size of at least 15 employees requires that pregnancies be treated the same way as an illness is treated under the policy. Many State laws lower the group size for this requirement. Even so, most group disability insurance carriers either automatically extend this coverage to groups less than 15 employees, or make it available by choice of the employer at the time the policy is written, so even smaller groups may also benefit include maternity disability coverage. Even if your policy does include disability for pregnancies, you must pay close attention to the waiting period and the period of benefits. The waiting period is the time frame in which a person must be disabled and no benefits are payable. This could be days, weeks or even months. For example, if the policy has a 7 day waiting period then for the 1st 7 days of disability, no benefits would be payable until the 8th day on. There is a standard recovery time for not only delivery but any disabling condition & most insurance companies will consider benefits until the 6 week postpartum date for a normal delivery and 8 weeks postpartum for a c-section. Make sure the that the period of benefits (the maximum time period a person could receive benefits) would meet exceed the time frame you would need disability income.
Of course it is available. The limits are depending on what the disability is. You need to work with a reputable broker.
California SDI replaces 55% of your income for 52 weeks, up to a maximum of $949 per week in 2009.
This is an impossible question to answer without knowing looking at your policy. There are many reasons a life insurance policy can be canceled and many ways to keep most poli…cies in force. There is no way to tell you exactly what your are and are not covered without reviewing your exact policy (which is the binding contract that the insurance company must legally be responsible for, CAUTION: VERBAL OR WRITTEN agreements are not what you are entitled to unless those written agreements are bound in the policy itself NOT in the folder or packet with your policy in it). To be sure of what is true for your exact case get a free analysis from a team of professionals, just so there is no surprises. E-mail (email@example.com).
You will recieve disability payment as long as your disability continues to qualify. Individual situations are periodically re-evaluated. Obviously, something like an amputati…on isn't going to change. A condition such as PTSD, however, may improve over time, and might recieve less compensation when re-evaluated.
If a insurance company pays for Temporary disability are they liable to pay for long term disability?
Insurance companies are notrmally very specific about what they will and will not cover, the policy may only cover short term temporary disability - this does not mean the ins…urer has any obligations for longer term payouts, you need to read the policy carefully and if still unsure then ruing the insurere or broker that sold you the insurance
If you have long term disability insurance with your company but are paying for it 100 percent and are terminated from the job can you continue to pay the insurance privately and keep the policy?
This will be dependent on the coverage that your are offered and have been paying for at work. Some companies allow for individuals to continue coverage on an individual basis… and others do not. The best way to find out is simply to call your specific insurance company and ask. If you are in good health, you may want to look into what is offered on the individual market as well. Group coverage is great for those who cannot qualify for individual coverage, but the benefits it provides are lacking in comparison. If you are able to qualify for individual coverage, even though it may cost more, it may be the best option.
IF you paid the premiums with before income tax funds for this private disability insurance the amounts that you receive is NOT taxable income to you.
Not specifically for a long term disability, but you can collect if you have a terminal illness.
Depending on the benefits schedule on your disability insurance policy.. A short-term disability policy can pay from 3 months to 24 months benefit period, and long-term disab…ility policies have benefit periods from 24 months to 5 years, 10 years or to age 65, 67 or 70. You choose the benefit period when you purchase the disability insurance policy, through your employer or individually..
It is unclear what you are asking, but I will do my best. If you are asking whether you can buy a car with your disability payments (from a private insurer, Social Security… Disability, or otherwise), yes. Keep in mind, though that that may leave you short for other needs, but it is business decision for you to make. The payer of the disability benefits has no obligation to buy a car for you under ordinary circumstances. It would be the very odd situation that would require a disability payer to do so. Nonetheless, a private insurer may consider doing so as a means of facilitating your return to work and thereby no longer qualifying for disability. In the long run, it may be cheaper for it to go "out of policy" and do this, than paying benefits for a very long time. The contract controls what you can collect under a private policy; statutes control what you can collect under public sources of disability, such as Social Security Disability.
Just about anyone can get term life insurance - as long as they are willing to pay what is asked. Different conditions will cause the price to skyrocket and limit the number o…f companies willing to insure you. Blindness will get you labeled "disabled" but it doesn't raise your premiums near as much as stroke would.
What happens to your group term life insurance from your employer when you go on long-term disability?
As long as you're still on the payroll of the company, your group term life insurance policy should still be active. Denise Mancini Disclaimer: I work for AccuQuote and t…his is my personal opinion.
"Out on disability" for how long? If it is only a temporary absence with an assurance that you're coming back to work - and your insurance is part of your salary/pay package…, it should remain in effect. On the other hand, if you are out permanently with no possibility, or thought, of returning to work, your insurance will probably end at about the same time as your final paycheck. This may be governed by the workplace laws of the various states, or even federal law, but it is an eventual reality which you will have to face.
Onoinarily, no. Disability insurance, like other types, is intended to provide benefits for only fortuitous events--those that cannot be planned and which are not intended or …foreseeable. Although alcoholism may not have been the intention of the alcohol user, it was a foreseeable consequence of overuse. That said, there may be limited benefits available for rehabilitation under a health insurance policy, as well as for medical care needed due to physical problems resulting from alcoholism.