Exploring Disability Insurance | Virginia Employee Benefits Agency

Disability insurance is a type of insurance coverage that replaces a portion of your monthly income in the event you are unable to perform your work functions due to illness or injury. This insurance gives both yourself, and those who are dependent on you and your paycheck, a sense of financial security while you are out of work. Let’s explore disability insurance.

Who Qualifies for Disability Insurance and Why?

According to the Social Security Administration, about 1 in 4 adults, who are currently in their 20’s, will have some sort of disabling event in their life that will cause them to be out of work for at least 3 months before they hit retirement age. And, while most people think that disability insurance is most used by those with an injury due to an accident, the majority of claims (90%) come from medical illnesses. In fact, the most common claims are related to cancer, back pain, cardiovascular disease, injury, pregnancy, and digestive disorders.

Types of Disability Insurance

There are two types of disability insurance than an individual can enroll in and one that is administrated by the government through the Social Security Administration. First, there is short-term disability insurance. This type pays paycheck benefits for, as the name suggests, a short-term disability due to injury or illness.  The time frame for these benefits is between 3-6 months and can cover between 40-60% of the participant’s income. Purchasing this type of insurance tends to be expensive and benefits usually begin about 14 days after the qualifying incident.

Long-term disability insurance pays between 60-80% of the participant’s income and typically lasts until they recover from the injury or illness or until a pre-determined number of years, for instance, until they are 65.  Benefits for long-term disability insurance usually begin after a 90-day waiting time.

Social Security Disability Insurance (SSDI) is administered by the Social Security Administration (SSA). To be eligible for these benefits, the person must be approved through a strict list of qualifications from the SSA, which can be found here. It is difficult to qualify for SSDI benefits and the average monthly benefit in 2019 was $1,234.

How to Enroll in Disability Insurance

When looking to buy disability insurance, first, look to see if your employer offers employer-sponsored coverage at work. Many times, employers pay for all or a portion of the premiums. Some employers offer disability insurance for employees to buy at a discounted rate as a voluntary benefit as part of their benefits package.  If you are part of a professional organization like a labor union or one for a specific profession, they may offer the ability to purchase disability insurance at a group rate. Also, you may purchase insurance through an insurance broker or directly from an insurance company.

COVID-19 and Disability Insurance

In some instances, disability insurance may cover the participant who is affected by the COVID-19 pandemic. Some benefits will cover if you are medically quarantined because of a positive COVID test or exposure to the coronavirus and you cannot complete your work function. This does not include state mandated “work from home orders.” Also, some COVID-19 survivors have lingering symptoms such as fatigue, headaches, and pain and these symptoms prevent them from being able to work. In these cases, short-term disability insurance may kick in. Check with your HR team or insurance broker to verify your coverage and eligibility.

Disability insurance provides the financial security needed by yourself and those who depend on you. In these uncertain times, having a backup plan in place will give you the confidence that an unforeseen illness or injury will not deplete your bank accounts while you get back on your feet. Check into disability insurance plans at your workplace, professional organization, or through a local broker. You and your family will be glad you did.

The information and content provided herein is for educational purposes only, and should not be considered legal, tax, investment, or financial advice, recommendation, or endorsement.

 

229 responses to “Exploring Disability Insurance | Virginia Employee Benefits Agency

  1. “I would like to thank you for the efforts you’ve put in writing this website. I’m hoping to check out the same high-grade blog posts from you later on as well. In fact, your creative writing abilities has motivated me to get my own, personal blog now ;)”
    דירות דיסקרטיות בבת ים

  2. Awesome website you have here but I was curious about if you knew of any message boards that cover the same topics
    discussed in this article? I’d really love to be a part of online community where I can get advice from other experienced individuals
    that share the same interest. If you have any recommendations,
    please let me know. Thank you!

  3. Hello this is somewhat of off topic but I was wondering if blogs
    use WYSIWYG editors or if you have to manually code with HTML.
    I’m starting a blog soon but have no coding experience so I wanted to get guidance from
    someone with experience. Any help would be greatly appreciated!

  4. I’ve been browsing online more than three
    hours today, yet I never found any interesting article like yours.

    It is pretty worth enough for me. Personally,
    if all webmasters and bloggers made good content as you did,
    the net will be a lot more useful than ever before.

  5. instagram takipçi satın al
    diyerek fenomen olmak istiyorsanız tam olarak aradığınız site burada

    günün her zamanında destek sağlanacağı da biliniyor.

    Bu sayede kısa vakitte daha geniş kitlelere ulaşım sağlayarak dolaylı olarak
    da,
    etkileşimlerinizi ve takipçi sayılarınızı artırma olanağı elde edebilirsiniz.

    Tercih edilecek olan miktarlar ve tercih edilecek olan seçeneklere göre ayrı fiyatlandırmaların da var bulunduğu bilinmelidir.

    .

  6. Sitede Türk takipci satin al içerikleri sergilenirken, en ideal fiyatlı takipçi paketlerine de siteden ulaşılabiliyor.

    Sizlerde aktif ve tanınmış bir Instagram hesabına sahip
    olmak amacıyla siteyle etkileşim kurabilirsiniz.

    Aldığınız türk yada yabancı takipçi farketmezsizin hemen profilinize
    etkileşim kuracaklardır
    Instagram hesabınızı yoğun bir etkileşimli duruma getirmek için en iyi seçenek türk takipçi satın al Seçeneğidir.

    En iyi TÜRK TAKİPÇİ SATIŞ SİTESİ Takip2018.com a herkesi bekleriz

  7. İnstagram uygulamasının amacı özel anların ve güzel görülen video ve fotoğrafların paylaşılması ve beğeni almasıdır.

    Ancak günümüzde yeteri kadar sağlıklı takipçileri bulunmayan hesapların beğeni sayılarının oldukça
    az olduğu görülmektedir.
    Bu gibi durumlarda kişilerin ilk tercihlerinin instagram takipçi satın al platformları
    olduğu görülmektedir.
    Bu sayede kişiler takipçilerinin sayısına oranla beğeni sayısı alabilecektir.

    Bunula beraber de daha yaygın bir hesap olanağı sağlayarak geniş
    bir kitleye yayılma imkanı elde eder.
    Bunun sonucunda ise takipçi sayısında giderek artmaların meydana geleceği görülmektedir.

    Kullanıcıların tercih edecekleri bu platformların güvenilir olmasına
    oldukça fazla dikkat etmeleri gerekmektedir.

    Aksi takdirde sağlanacak olan beğenilerin yeteri kadar etki sağlamayacağı bilinmelidir.

    Güvenilir olup olmayışı pek belli olmayan sitelerden yapılan satın alma
    işlemleri sonrasında gönderilmiş olan fake takipçiler sonucu kişilerin anlık
    olarak beğenileri artabilir.
    Ancak sağlanması arzulanan takipçi sayısının artması veya yaygın bir kitleye hitap edebilme
    isteği tam olarak yerine getirilemez.
    Bu nedenle tercih edilecek olan sitelerde güvenilirliğin yüksek kalitede olması gerekmektedir

  8. Instagram takipçi kadar beğeni almakta önemlidir
    Instagram takipçi satın alan kişiler genelde beğeni alma
    işlemini gerçekleştirmemektedirler, oysaki
    onbinlerce takipçisi olan kişilerin buna oranda instagram beğeni satın al yapmalıdırlar, Çünkü takipçilerinizi gören kişi en az
    % 40 ı kadar da beğeni görmek isteyeceklerdir.

    Hesabınızın prestiji için mutlaka beğeni alma işleminizi unutmayın

  9. I’ve been browsing on-line more than three hours
    today, yet I by no means discovered any fascinating article like yours.
    It is lovely worth enough for me. In my opinion, if all
    site owners and bloggers made excellent content as you probably did, the web will probably be much
    more useful than ever before.

  10. Hey there! I’ve been following your weblog for some time now and finally
    got the bravery to go ahead and give you a shout out from
    Houston Tx! Just wanted to mention keep up the excellent job!

  11. I will right away snatch your rss as I can not in finding your email subscription hyperlink or newsletter service.
    Do you have any? Kindly let me understand so that I
    may subscribe. Thanks.

  12. Hi there! Someone in my Facebook group shared this website with
    us so I came to give it a look. I’m definitely loving the information. I’m
    book-marking and will be tweeting this to my followers!
    Exceptional blog and excellent design and style.

  13. Howdy just wanted to give you a quick heads up. The words
    in your content seem to be running off the screen in Internet explorer.
    I’m not sure if this is a formatting issue or something to do with web browser compatibility but I thought I’d post to let you know.
    The design look great though! Hope you get the problem fixed soon. Many thanks

  14. Woah! I’m really loving the template/theme of this blog.
    It’s simple, yet effective. A lot of times it’s difficult to get that “perfect balance” between usability and visual appeal.
    I must say you have done a superb job with this. Additionally, the
    blog loads super fast for me on Firefox. Outstanding Blog!

  15. I will immediately grasp your rss as I can not to find your e-mail subscription link
    or newsletter service. Do you’ve any? Kindly allow me understand in order that I may
    subscribe. Thanks.

  16. Spot on with this write-up, I honestly feel this site needs a great deal more attention. I’ll probably be
    back again to read more, thanks for the info!

  17. It’s really a nice and useful piece of information. I’m happy that you simply shared this useful information with us.
    Please stay us up to date like this. Thanks for sharing.

  18. This is a good tip particularly to those fresh
    to the blogosphere. Short but very precise information…
    Thank you for sharing this one. A must read article!

  19. Wow! This blog looks exactly like my old one!
    It’s on a completely different topic but it has pretty much the same page layout and
    design. Wonderful choice of colors!

  20. Its such as you read my thoughts! You appear to grasp a lot about this, such as you wrote
    the ebook in it or something. I feel that you can do with a few
    percent to power the message house a bit, but instead of that,
    this is great blog. A great read. I’ll certainly be back.

  21. A fascinating discussion is worth comment. I do believe that you need to write more about this issue, it may not be a taboo subject but typically
    folks don’t speak about these issues. To the next! All the
    best!!

  22. I’ve been surfing on-line greater than three hours these days,
    but I never found any interesting article like yours. It’s lovely price sufficient for me.
    In my view, if all website owners and bloggers made good content
    material as you probably did, the net might be much more helpful than ever
    before.

  23. I have been browsing online greater than three hours nowadays,
    but I never found any interesting article like yours.
    It’s lovely worth sufficient for me. In my view, if all web owners
    and bloggers made good content material as you did,
    the net will probably be much more useful than ever before.

  24. It’s perfect time to make some plans for the long run and it’s time to be
    happy. I’ve read this post and if I may just I want to suggest
    you few fascinating issues or advice. Perhaps you could write next articles
    referring to this article. I wish to read even more issues
    about it!

  25. If you are going for best contents like I do, just visit this web
    site everyday for the reason that it provides feature contents, thanks

  26. Hi, I do think this is a great website. I stumbledupon it 😉 I will come
    back yet again since I bookmarked it. Money and freedom is the greatest way to change, may you be rich
    and continue to guide other people.

Leave a Reply

Top