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Yes, although most insurance carriers will still limit you to some percentage of income to prevent you from becoming overinsured. Typically, if you have an employer-paid Group Long-Term Disability plan (which might protect 60-67% of you income, and is a taxable beneift), you are still eligible for individually owned DI for an additional 5-20%, based on your income. This additional amount is meant to compensate you for the taxable portion of your group benefit. If you receive income paid as bonus or overtime, it may not be covered by your Group LTD, in which case you would be eligible for more individually owned DI. Understandably, most insurance carriers don't want you to end up getting more benefit post-disability than you did with pre-disability earnings. Minimizing the benefit provides motivation to return to work, and limits fraudulent claims for the carrier.

2007-06-21 23:13:28
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Q: Can you buy additional disability insurance beyond your employer's coverage?
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Related Questions

Is there such a thing as individual disability insurance?

Individual disability insurance is available through many insurance companies as well as employers. This coverage is available at an extra cost. Talk with your insurance provider for details.

Why might a medical assistant purchase a professional liability insurance policy separate from the employer's policy?

In order to provide themselves with additional (supplemental) coverage in case the employers insurance policy is insufficient. When the assistant wants an additional layer of coverage beyond the limits provided by the employers policy.

Disability Insurance Provides a Temporary Means of Income?

Disability insurance is important insurance coverage in the event that an employee is temporarily unable to work due to a physical disability. Disability insurance provides monetary compensation to policy owners while they are recuperating. Some states automatically deduct money from employee paychecks in order to cover them with state disability insurance in case of injuries that occur at work. Supplemental disability insurance policies that provide additional funds for disabled employees are also available. Disability insurance is good coverage to own, especially when there is temporarily no income from a job, and there are no additional savings in a savings account.

Does state farm isurance include disability insurance coverage?

The level of disability coverage that you possess from State Farm can be located by consulting your insurance policy. State Farm does offer disability coverage, but it must be purchased.

Does disability follow you from state to state?

Individual Disability insurance will follow you to various states, as long as you remain in the United States. It will also continue to follow you even if you change employers.Group coverage will also follow you across states, but will not continue if you change employers.

Can alcoholics collect disability insurance?

Yes, if they have disability coverage to collect from and are in fact disabled.

Are there any online term life insurance quotes that include disability coverage?

Disability isn't usually "rolled into" a life insurance policy, but you can buy both life and disability coverage from MetLife or Guardian Life, for example.

Does Arizona have state disability insurance?

No Arizona does not have state mandated short term disability insurance. Only five states have this coverage. Arizona is one of 35 states without mandated coverage.

Where can I purchase disability insurance coverage?

Disability insurance is a pretty common insurance for many companies. You can check with health insurance providers like Aetna, Blue Cross Blue Shield, or Cigna.

Does a phyisican's assistant need malpractice insurance?

A medical assistant when working under the supervision of a employing physician should be covered under the employers insurance. The assistant could still get their own malpractice coverage though if additional security or a higher coverage limit is desired.

Can you get disability insurance after a disability?

You can get disability coverage after a disability under certain conditions. It depends upon the cause of your disability and how long you have been recovered. Each carrier has different underwriting standards. Some insurers will offer a guaranteed issue to employer groups. Your ability to get coverage will depend upon the required percentage of eligible employees electing coverage. Obtaining private disability insurance after sustaining a disability may be more tricky, because disability insurance is medically underwritten. From the insurer's perspective, it does not have the same "law of large numbers" with an individual policy (because only one person is insured), as it does in a group disability policy. In most cases, the initial disability will be ridered (meaning that there will be no coverage for it, and perhaps, related causes).

Can you purchase a second short term disability insurance if you already have short term disability insurance through your employer?

Yes you can get supplemental coverage. Most carriers will limit the total benefit amount to under 70% of your income. For example, if your current policy replaces 35% of your income, you can purchase a supplemental disability policy to replace an additional 35%

Can your bipolar son be continued on your health insurance plan if he is not able to be full time student?

Most if not all health insurance companies will continue coverage children who have a disability that renders them physically or mentally incapable of self support. This can continue on into adulthood as long as there is no break in coverage. The disability must started when they were covered on your plan as a child Contact your insurance company to find out what documentation you need to provide and if there are any additional requirements that need to be met.

How much can you earn in addition to private disability insurance?

The amount of income you could receive in addition to Social Security benefits will depend on the type of benefit your Disability insurance coverage provides. Some benefits will offset with all Social Security benefits you qualify for, which essentially means the additional income you receive will be equal to the difference of your monthly benefit and your Social Security benefits.$5,000 Disability insurance benefit (off-settable)$1,000 Social Security benefitYou will receive a net $4,000 of additional income and a total of $5,000.There is also a benefit called "base" benefit, which does not offset with Social Security benefits. In this scenario the additional income you will receive is equal to your entire Disability insurance benefit.$5,000 Disability insurance benefit (not off-settable)$1,000 Social Security benefitYou will receive a net $5,000 of additional income and a total of $6,000.

How much does it cost to get disability insurance?

The exact cost for disability insurance will depend on a lot of factors, including the amount of coverage desired, the age and health of the individual, and the area of the country where you live.

Time limit for claiming state disability insurance in Texas?

The is no time limit, because there is no state disability insurance in Texas. State disability, where mandated, is typically short term coverage. Federal, or Social Security Disability is for long term disabilities and is available in all 50 states. You may be eligible for this coverage. Check out the social security website for details.

Does Erie car insurance pay for short term disability?

Most auto insurance policies have an optional coverage called work loss coverage that will pay for some amount of temporary disability if you are injured in an auto accident and have chosen to purchase this option on your policy.

What is covered under RBC insurance?

RBC Insurance offers both Personal and Business Insurance. Options for Personal coverage are Home & Property, Auto, Life, Health and Travel Insurance. Options for Business coverage are Life, Health (Disability), Dental, and Credit Insurance.

What is the primary reason employers purchase insurance plans to provide health coverage?

With spiraling medical costs, the employees without health insurance coverage will be in total jeopardy. As a result, they will absent from their duties frequently and their working strength will gradually reduce to a low ebb. Considering the above scenario, the employers deems it essential to purchase insurance plans for their employees' health coverage.

Why do you have to pay FICA?

Because that is the way that you contribute to your social security and medicare insurance coverage and disability insurance that you may receive at a future date.

Where can you get dental care insurance?

America’s Health Insurance Plans (AHIP) is the national association representing nearly 1,300 member companies proving health insurance coverage to more than 200 million Americans. Our member companies offer medical insurance, long-term care insurance, disability income insurance, dental insurance, supplemental insurance, stop-loss insurance and reinsurance to consumers, employers and public purchasers.

How do you drop medical coverage on spouse switching to employers insurance?

Either go to the HR department where you work or contact your insurance company directly. The company will need this in writing. Make sure there is no lapse in coverage.

Does home insurance cover damage to sheds?

IF your policy has coverage for "additional structures" and most do. Then you should have coverage, subject to your deductible of course

Does your insurance cover you in your friend's car?

Yes, some of your own automobile insurance can cover you while driving your friends car. The coverage that your friend has on the car will be the primary coverage and then if that coverage is insufficient for the damage caused then you can go to your own policy for additional coverage.

Is disability insurance mandatory in NJ?

NJ has state mandated short term disability insurance for workers of private companies. Public employees are exempt from the mandate, but can buy coverage should the group choose the option.