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 provide 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. (MORE)
Mortgage insurance For mortgage - I don't know of any companies that offer unemployment coverage other than through the State, those links are on the disability page. If you are self employed you can get unemployment and disability at your option through the State (CA) if your an employee, it's ma…ndatory New answer 11/07/08 - if you are talking about private mortgage insurance, yes there are companies that offer PMI that have an option for disability and unemployment coverage. Add on answer 02/18/2011- You can purchase additional riders for the Mortgage Protection Insurance which is a form of Life Insurance with the premiums to be paid by the company if the owner is disabled or unemployed. Check with your agent first before jumping into any product and ask around. : Yes, you can add unemplyment mortgage protection, as well as disability income benefits to your mortgage insurance policy. A good agent can compare different rates from multiple companies and help you through the process. (MORE)
What if you have disability insurance and become disabled can they take your car your credit and still ask for money when the disability insurance was purchased to cover that type of event in life?
\n. \nIt is your responsibility to see that the DI pays you and YOU pay the payments on time. rem your agreement with the lender stated that YOU would make the payments on a certain date. HOW you get that money is up to you.
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.
It should, as long as your past the 2 year incontestiblity period. The best way to find out is to read the policy.
Long-Term Care insurance protects asstes, disability income protects income . No, long term care insurance covers all the costs of a caregiver that is not covered by Medicare, Medicate and disability insurance. These services are quite extensive and expensive.
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". (MORE)
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 offered 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. (MORE)
Homeowners insurance does not cover your mortgage if you becomedisabled. You would need to obtain mortgage protection insurancefor that.
If you are on disability and become the beneficiary of a life insurance does it affect your benefits?
When you are in receipt of disability living allowance or DLA as it is also known you will also be on another state benefit such as income support or invalidity benefit and when you receive the money from the life insurance upon which you are waiting you will need to contact your local benefit secti…on of the dhss to inform them of the extra money which you have received as it is by law that you signed a document when you made your application for the state benefit that you agreed to contact them should your circumstances change as will be the case for you and if the ammount of money which you receive is above a certain ammount then yes it could well affect your ammount of either income support or invalidity benefit but as long as you are still qualified to receive one of these benefits even if the ammount drops drastically as long as you receive something on one of these then your disability living allowance will not be affected and you do not have to imform the DLA benefit office of your windfall unless it affects your eligibility for receiving income support or invalidity benefit in which case you need to notify the DLA section of the dhss that your state benefit has been stopped and then because you are not receiving the same benefits as you were before that will make you also unentitled to receive disability living allowance as one of the criteria for being eligible for dla is that you must be in receipt of one of the other state benefits . (MORE)
What is the difference between long term disability insurance and accidental death and dismemberment insurance?
Long Term Disability policies cover you if you are put in a nursing home or need to have a nurse come to your home regardless of how you were put there. Accidental Death and Dismemberment policies are usually attached to auto policies and they pay you and your family money if you are killed or lose …limbs in an automobile accident. (MORE)
Of course it is available. The limits are depending on what the disability is. You need to work with a reputable broker.
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 co…verage 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). (MORE)
Although Social Security provide you financial assistant but it fails when you some how or other get some disability. In such cases disability insurance can benefits a man. Any person who can pay for insurance policy can take a disability insurance. Companies pay different disability insurance as pe…r package. (MORE)
Reg. 31.3121(a)(4)-1 says no FICA after 6 months:. Â§ 31.3121(a)(4)-1 Payments on account . of sickness or accident disability, or . medical or hospitalization expenses. . The term wages does not include. any payment made by an employer to,. or on behalf of, an employee on account. of the e…mployee's sickness or accident. disability or the medical or hospitalization. expenses in connection. with the employee's sickness or accident. disability, if such payment is . made after the expiration of 6 calendar . months following the last calendar . month in which such employee worked . for such employer. Such payments are. excluded from wages under this exception. even though not made under a. plan or system. If the employee does. not actually perform services for the. employer during the requisite period,. the existence of the employer- employee. relationship during that period. is immaterial.. (MORE)
California replaces 55% of your income, up to a max of $949 per week in 2009.
It depends on how much LTD you bought. As in, $1500/mo for 2 years or maybe $2600 till age 65. Check your policy.
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 policies in force. There is no way to tell you exactly what your are and are not covered without reviewing your exact policy (whi…ch 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 (firstname.lastname@example.org). (MORE)
No, you cannot deduct premiums paid on disability insurance policies. Two scenarios, first if your employers pays the premiums you would receive the disbursements as taxable income. If you pay your own premiums, then you would receive the disbursements tax free. Either way, you cannot deduct on your… individual income tax the premiums paid. Think about it! If your employer paid the premiums, there was no expense to you, hence no deduction!. If you paid the premiums, you do have an expense BUT you are receiving the disbursements tax free and therefore could not take a deduction! (MORE)
Certain employers pay the medical insurance premiums, either in full or in part, for their employees as part of the employee's remuneration package. These renewals are also subject to the 20% tax relief at source. Medical insurance pays benefits to members if they are insured.
NY State Disability Insurance replaces up to 50% of your income, or $170 per week, whichever is less. Most workers in NY will find that this level of coverage inadequate. You can get supplemental short term disability to provide you with a higher level of income protection.
Disability insurance typically covers up to 2/3 of your gross income, up to certain monthly limits. The amount of take-home pay you will receive depends on several factors: If your income is very high, you may hit the monthly benefit limit, and thus receive a benefit that is less than 2/3 of your… gross. If you pay for your policy at work with either pre-tax dollars, or if your employer contributes to the cost of your premium, your benefit will be taxed. If you pay for the policy entirely by yourself, and you pay using after tax dollars you will receive your benefit tax free. A policy replacing 2/3 of your gross income, could actually replace close to all of your former take home pay. (MORE)
The payment is for life once the disability is determined to be permanent. The VA has the right to ask the individual to come in for re-evaluation.
You will recieve disability payment as long as your disability continues to qualify. Individual situations are periodically re-evaluated. Obviously, something like an amputation isn't going to change. A condition such as PTSD, however, may improve over time, and might recieve less compensation when …re-evaluated. (MORE)
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 insurer has any obligations for longer term payouts, you need to read the policy carefully and if still unsure then ruing the in…surere or broker that sold you the insurance (MORE)
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. (MORE)
That depends upon whether you are covered under FMLA, and the percentage of premium paid by your employer. If you are covered under FMLA, then your employer is required to continue coverage on the same basis as before your leave. For example if your employer was paying half the premium and you we…re paying half the premium, this arrangement would continue while you are on leave. You would be responsible for continuing these payments. If your employer pays 100% of the premium you would have no payments to make. If you are not covered under FMLA your employer is free to ask you to pay 100% of the premium. (MORE)
Disability insurance by definition is a policy that replaces a portion of your income should you become unable to work due to illness or injury. The two are the same.
For an individual: You would have to put in an application with a company that provides disability insurance. They will check your medical records, perform an exam, and also look into your financial statements and taxes to determine your eligibility. A large percentage of disability insurance applic…ations are rejected. It is more difficult to qualify for than life insurance. (MORE)
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.
Disability insurance often replaces up to 2/3 of your income. The idea is to keep money flowing in during times you are unable to work, but not to create an incentive for workers to stay disabled. Insurers want you returning to work as soon as possible, and shorter disabilities keep premiums afforda…ble. Insurance companies ask if you have other coverage in order to make sure that you won't be making more money while hurt than when at work. (MORE)
Not specifically for a long term disability, but you can collect if you have a terminal illness.
In 2012, the average monthly SSDI benefit is $1,111, but the amount varies depending on how much you have contributed in FICA taxes. A cost-of-living increase typically is applied each year as well. If you receive SSDI benefits and you have a dependent under age 18, he or she also may be eligible fo…r benefits. (MORE)
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 disability 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.. (MORE)
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 decis…ion 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. (MORE)
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 of companies willing to insure you. Blindness will get you labeled "disabled" but it doesn't raise your premiums near as much …as stroke would. (MORE)
Do Employers have the right to deduct long term disability insurance premiums off your pay cheque without your consent?
At some time you had the opportunity to choose your benefits and you signed the application for the disability insurance. If you want the insurance you will have to pay for it. If not go to your personnel office and cancel it. You may have to wait until the renewal date if the company only lets you …change benefits at certain times. The good part of you paying for the premiums of long term disability is that the benefits are not taxable if you ever get disabled. If the employer pays for the premiums or if it is paid for with before tax funds then the benefits are subject to income taxes. (MORE)
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 this 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. (MORE)
Generally speaking, your health benefits through your employer will terminate after a certain period of time, even if you continue to receive Long Term Disability benefits. How long you may stay on your former employer's group health plan and who pays the premiums for that coverage depends on many f…actors, including the size of your employer, the state in which your employer is sitused, the state in which you work, and the state in which you live. Generally speaking, if your employer is large enough to be subject to the Family and Medical Leave Act (FMLA) of 1993 (in other words, over 50 employees, not a church or government plan, etc.) and if you and your leave of absence meets the FMLA requirements, your health coverage will only continue until your approved FMLA leave has been exhausted (typically 12 weeks). According to the Department of Labor website: " MAINTENANCE OF HEALTH BENEFITS "A covered employer is required to maintain group health insurance coverage for an employee on FMLA leave whenever such insurance was provided before the leave was taken and on the same terms as if the employee had continued to work. If applicable, arrangements will need to be made for employees to pay their share of health insurance premiums while on leave. In some instances, the employer may recover premiums it paid to maintain health coverage for an employee who fails to return to work from FMLA leave." Many states and the District of Columbia also have their own version of FMLA (sometimes called "Mini-FMLA") which expands the eligibility to smaller employers, lengthens or broadens the criteria of who is covered and when, or both. Similarly, if you belong to a collective bargaining agreement, your entitlement and access to health insurance may be contractually extended beyond the entitlements provided under FMLA or similar laws. If your employer is smaller or is otherwise NOT subject to FMLA or similar laws, in most cases employers can and will terminate your group health insurance as an active employee as soon as you no longer meet that policy's "eligible class" definition. For example, if you are no longer working 30 hours per week on a full-time basis they may be able to terminate your coverage as of the day after your last date worked, the last day of the month, or... if it is their policy to do so... once you've used up your last date of accrued sick and/or vacation time (since some employers will consider you full time and in good standing until you've ran out of such employer-paid time off). Some employers will also extend this to the last date any Short Term Disability benefits are payable, but this depends on the employer, the state, and other factors. It is very rare for employers to extend medical coverage beyond that which is required by law and into an extended period of Long Term Disability. When it happens it is often not in accordance with the health insurance policy's eligibility provisions. An employer, even as a result of good intentions, may be putting you at unintended risk by extending full-insured health insurance benefits to you if they do not in fact have the contractual authority to do so. It should be noted that once your coverage as an active employee ends, this does not necessarily mean your access to health insurance has ended as well. For example, in most circumstances you should then be able to continue on the group plan on a premium-paying basis (if your employer is over 20 employees COBRA and/or State Continuation or "Mini-COBRA" for smaller employers) or else you may be able to "convert" to a free-standing individual (non-group) health insurance policy. Residents of some states and the District of Columbia have access to individual health insurance plans that do not require medical underwriting. Premiums are not always affordable to every person who is eligible to elect them. (MORE)
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 ove…ruse. 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. (MORE)
It depends on the statute of limitations for liability claims in your state. It varies from state to state. Some can be as long as 6-10 years. Some can be as short as 2 years.
In ALL 50 states you pay child support until your obligation is complete. If you owe back support (regardless of what state you are in) you MUST pay the back support regardless of the age or disability of the child. In unique circumstance the age of the child support obligation can be increased thro…ugh a guardianship probate court case (MORE)
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 you may be referring to is a disability waiver of premium. This is a provision that is generally available, for an additional premium, that waives the payment of premiums upon the disability of the person who is responsible for the payment of premiums. The disability waiver is, as stated, an o…ption that is usually selected at the inception of the policy. In direct answer to your question, not all policies have them. (MORE)
Mortgage life and disability insurance is offered by such companies as State Farm, Total Mortgage Protection, and Family Insurance. Of these, State Farm is probably the best, receiving an average score of 80 out of 100 on the website Viewpoints, based on 775 reviews. It is the second-best-rated in…surance company on the website, behind USAA. (MORE)
One can find information on life and disability insurance at their local bank or insurance agent. Online there are many resources available and multitude of advice. the governments of Canada and the United States both carry information and links on their official website about how to acquire infor…mation. Most sites are run by insurance companies and therefore the information given is not necessarily unbiased. Insurance providers once could check with include Great West, Sun-Life, TD Life and more. (MORE)
There are a number of UK companies that offer life and disability insurance. Some of those companies include 'Prudential', 'Aviva', 'Nationwide' and 'Sun Life'.
If your question pertains to a private disability policy, thepolicy language will generally state that a claim for benefits mustbe filed "as soon as practicable". Group policies generally havesimilar language. Broadly, this suggests some flexibility basedupon the circumstances of the illness or inju…ry that resulted inthe disability. However, be certain to read the policy carefully toensure that there is not a more specific tome frame for filing theclaim. (MORE)