Disability Insurance for Workers
Disability insurance is coverage that pays when you can’t work because of illness or disability. The coverage is usually part of a jobs benefits package. But it may not become available until after you’ve worked 30, 60 or 90 days. Workplace benefits sometimes become effective immediately, but not all the time.
Workplace benefits have premiums, but the employee usually deducts it from your check. The premium is usually subsidized, which means you don’t have to pay the full thing.
If anything happens, such as an accident on or off the job, you can file a claim. You are eligible to file a claim even if you illness or disability has nothing to do with your job. You will have to visit a doctor and get a diagnosis, and an estimated “”return to work”” date.
You’ll have to submit the claim, and the insurance will decide if it’s valid. If the insurance company honors your claim, then you’ll get a percentage of your wages for a period of time.
Short-term disability can last up to one year, and long-term disability lasts longer. Both cover physical injuries, illnesses and a number of mental and emotional issues.
Disability insurance is helpful when you’re unable to work. It pays a portion of your income, and makes things financially easier.