Disability Insurance Facts You Need to Know


“If” is a small word with many possibilities as well as limitations! The word reportedly appears in the Bible more than 1,500 times. The word is also a conjunction that means a “possibility, condition, or stipulation.” We must decide whether our situations will take a positive or negative affect on us! Are you experiencing situations that are making life difficult? Getting injured on (or away from) the job is one thing that can present challenges.

By now, I am sure you know that there are possibilities, conditions, and stipulations. I have been injured twice, and those situations provided all of these. I strained my back at work, while moving a few computers, to rearrange my computer lab. Another time, I was injured in a car accident. I soon discovered that the possibilities of my disability insurance company paying based on my condition were limited.

Due to stipulations, my insurance company would not pay for my disability. I was frustrated when I realized there were many things that I did not know about disability insurance. I considered cancelling my policy several times, but I believe it can be useful one day. The key is knowing the facts about disability insurance; so, I committed to learning more and sharing with others. Here are seven disability insurance facts you need to know:

1. You have three basic options for plans: group, individual, and supplemental plans.
2. Check to see if you have a non-cancelable and guaranteed renewable policy.
3. Pay attention to the elimination and waiting periods.
4. Under “own occupation” coverage, you may have to find a job if you can’t perform yours.
5. For long term disability, look for cost of living adjustments.
6. Retirement may affect your disability coverage.
7. If you pay extra, you can get lifetime benefits.

Have you ever been injured (on or off the job) and needed disability insurance? Please comment.

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