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Know Your Options When Selecting Disability Insurance Coverage

Do you know if you have disability insurance coverage? It can be just as important as life or home insurance. If you or a family member get sick or injured and can’t work, disability insurance helps you pay the bills, buy groceries and take care of other necessities.

You generally have three options when it comes to disability insurance:

  • Government–sponsored program: Worker’s compensation or the Social Security Insurance (SSDI) program
  • Employer-sponsored group disability plans: Check with your employer to see what type of group disability plan they offer. Employers can sponsor short or long term disability insurance, or possibly both. It is up to your employer if they pay for all or part of your insurance premiums.
  • Private individual plans: These are plans you purchase on your own and they ensure income when there isn’t enough coverage by your employer or the government.

Having disability insurance can help prevent catastrophic financial losses if something happens to you or a family member. Knowing your options and being prepared is the best thing you can do to avoid major financial problems if you get sick or injured. Learn more about your disability insurance options.