Disability Insurance

Since IRA accounts are not governed by ERISA law as are 401(k) plans and other qualified retirement plans (such as 403(b) and others), the spouse is not required to be the default beneficiary. For those plans governed by ERISA, a spouse must either be the beneficiary of the plan or must have authorized any other beneficiary designation.

IRAs (both traditional and Roth IRAs) do not have this restriction: you can name anyone you wish as the beneficiary of your IRA account.

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

If you qualify for a DI payment under the terms of the contract, you should not have to sue. You just should have to simply file a claim with the claims department. Unfortunately not all valid claims are approved. If you obtained your disability insurance on your own, i.e. if it is an individual policy, then if all else fails to may sue the insurance company in state court, based on the laws of the state where you live. You should consult with a lwyer in your state about that since state laws do vary.

If you obtained your disability insurance through your employment, your claim is not subject to state law, but to federal law, under the Employee Retirement Income Security Act (ERISA). There are limited exceptions to this, such as if your employer is a church of a governmental entiry, but generally any employment-based coverage is governed by ERISA. Unfortunately ERISA is a very unfair law when it comes to enforcing insurance contracts, and you will find the deck is stacked against you in court (for further information see http:/problemiserisa.blogspot.com). You should still consult with an attorney, but you should make sure the attorney is well-versed in ERISA law, because it is highly complex and arcane and an inexperienced practitioner would have a difficult time getting up to speed.

This will depend on the type of private benefits your policy provides you. If 100% of your monthly benefit is considered "base" benefit, than you will NOT have to repay any benefits. However if part of your benefits are "social insurance" or "social security offset" benefits, than this portion of benefits will offset dollar-for-dollar with any social security benefits received. In this circumstance you would be required to repay the amount of benefit you received from social security, up to the full amount of social offset benefit your policy provides.

Probably not, unless you can show that your condition prevents you from performing your job duties, and your policy disability definition is an "own occupation" definition. Chances are that your color blindness allows you to work in many different occupations.

Ohio does not have a state mandated short term disability program. The amount you can claim will depend on your individual policy details. Your policy should provide this information.

Being a tori

Neruological dysfunction

the first state to implement a successsful disability plan was delaware

Some disability insurance policies will cover drug & alcohol as any other disability, but usually limit the benefits to maximum 24 month. If you had a disability insurance prior to being disabled from work due to alcoholism, and the policy did not specifically exclude drug & alcohol disabilities, you may be entitled to disability benefits.

What is the basis for the concept of risk pooling?

The basis for the concept of risk pooling is to share or reduce risks that no single member could absorb on their own. Hence, risk pooling reduces a person or fim's exposure to financial loss by spreading the risk among many members or companies. Actuarial concepts used in risk pooling include:

A. statistical variation.B. the law of averages.C. the law of large numbers.D. the laws of probability.

A long-term disability is an illness or accident that impairs you from working and earning an income for a period of 3 months or longer.

Lon-term disability insurance will pay a monthly benefit in case you can't work for three months or longer.

Benefit period is usually 2 years, 5 years, or to retirement age (age 65, 67). The waiting or elimination period is generally 90 days or 180 days, after which benefits start.

i heard that you can receive disability if you are an addict. Is this true and how?

Yes, you can still qualify to get disability insurance even if you had injuries or illnesses before. Depending on the status of your injury, it may be covered by a new disability insurance policy, or excluded. If your injury is excluded, it may still be covered in the future if you show improvements and are no longer affected by the old injury. You will have to ask the insurance company to remove the exclusion

The Social Security disability insurance program (sometimes referred to as SSDI) pays benefits to you and certain family members if you worked long enough and paid Social Security taxes.

You can go to the SSA gov website and find some information about this matter.

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).

No, for the majority of people, SS disability is not taxable. This goes for people who have additional income with disability, and for those who do not.

It is a life policy purchased by a business to compensate them for financial losses that would arise from the death of the member of the business specified on the policy. It can provide money to finance the recruitment and training of a replacement or to finance the buyout agreement.

Disability premiums will cost about 2-3% of your income on average. it is hard to answer with an exact number, since it depends on your age, occupation, duties, health, your choice of long term or short term benefits, etc.

2-3% of income is the accepted average premium cost in disability insurance.

The rates can greatly vary from company to company and your age and health are important factors. Also, if you apply for additional riders (benefits) rates can vary even more. I would request a quote that includes ALL riders with details and see what works for you! Be well.

Sorry your question seems incomplete. However if you mean can you take the disability payment intended for your spouse after your spouse has left you or died, then the answer is No.

If you mean can you have it while you spouse is living with you, then the answer is no, not unless you spouse give the payment to you freely.

Long term disability benefits may be a benefit of employment, or provided under an individual policy purchased by the insured. In either event, the terms of the benefit will be defined in the plan or policy. These include the duration of time that the insured must be out of work, due to a disabling injury contemplated by the policy, before being entitled to payments. That period of time is called the "elimination period".

December 31st, 2012. See Sources and related Links, further down this page, for more information.

To begin with I too have Long Term Disability insurance payments and SSDI payments. My policy was specific as to what would happen when SSDI kicked in. My monthly payment would be reduced by the amount of SSDI. In addition I was required to submit any "lump sum checks" issued by the Social Security Administration while my claim was being processed.

Now I understand most policies work this way but until you get a copy of your policy and review it, it will be difficult to give a complete accurate answer. Hope this helps.