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Disability Insurance?

Question by kath_08012 | Posted in Insurance

I'd like to get disability coverage because my husband and I are planning to try for a baby, and the policy I looked at covers this. What sorts of questions and proof do they ask you before you are considered covered? Do you do it over the phone or actually go in and meet with someone? I'm new to all of this. Thx!

Answer: Policies vary. Of course you will have to answer health questions on the application. Some may require a blood test, but since you must be fairly young if you are considering having a baby, you will probably not need a medical exam. You may be able to apply over the phone, or you may need a short visit with an insurance agent. I see a lot of life insurance that you can even get on the internet, but I have not seen disability policies. I could have missed it though.

NOTE: There may be a waiting period before you can collect benefits. Make sure you understand that before you get pregnant. I know of one policy that had a 12 month waiting (or elimination) period. So you do not want
 
 

What Is The Best And Cheapest Disability Insurance Tobuy From The Apwu?

Question by Sally M | Posted in Women's Health

i think apwu has cheaper plans but i am not sure which is better long or short disability.

Answer: AFLAC

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IRS Tax Deductibility Of SDI, State Disability Insurance, And VDI, Voluntary Disability Insurance?

Question by mike s | Posted in United States

Two questions:

1) Many companies require employees to pay State Disability Insurance, SDI, while other require Voluntary Disability Insurance, VDI.

It appears that SDI payments are tax deductible on the Federal return but VDI are not. Why is this?

2) Are benefits paid under each of these plans taxable or non taxable?

thanks

Answer: as far as I know, neither SDI or VDI is tax deductible on federal return. Of course, I've also never dealt with either SDI or VDI, so I could be wrong on the deductibility.

Ordinarily, disability income premiums are paid for with after tax dollars. This allows for your benefits to be received income tax free. In regards to group LTD, you might be able to pay your LTD premiums with after tax dollars. If so, you could receive the benefits income tax free

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In NJ, If You Have Private Disability Ins. Through An Employer And Pay, Do You Still Pay The SUI/SDI Tax?

Question by Pearl0808 | Posted in United States

My employer recently enrolled us in a private disability insurance plan, which we get charged for in our paycheck. Yet, we still get the NJ SUI/SDI tax deducted. He claims we pay less towards the SUI/SDI tax, but I'm not so sure. Anyone know?

Answer: You still pay the tax, since the SUI part actually goes towards unemployment insurance (SUI stands for State Unemployment Insurance).

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Disability Insurance Question, Combined Life, Afflac?

Question by ptrou101 | Posted in Insurance

Would it be wise of me to buy a disabilty insurance plan before I have elective surgery? How far ahead of surgery should I buy?

Here's the detail...50yo M. diagnosed with severe degenerative arthritis in both hips. I've been on Celebrex for the last 5 to 6 years as needed but have been using Celebrex more and more. The doctor says it is up to me when the right time is for surgery, more or less whenever I can't stand the pain anymore. He thinks it should be taken care of now instead

Answer: It is too late to get disability insurance. You are already under a doctor's care for "severe degenerative arthritis". When you apply for the disability policy there will be questions where you will have to disclose this condition. Your will application will be declined.

Sorry those are the facts. Kind of like deciding you need fire insurance when there is a forest fire raging a mile away from your house.

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A Guide to Disability Insurance: Does Coverage Replace Income?

Although some workers may be given group disability insurance by their employers and some may qualify for government help (i. e. workers' compensation and Social Security Disability Insurance) many have no protection in place. The premiums charged for disability insurance basically buy a replacement income if an individual becomes disabled under the conditions of the plan. This type of insurance is designed to give income replacement coverage in the event of a disability that prevents the individual from earning a salary. Those without company policies and the self-employed, for example, may benefit from buying their own disability insurance. How Does Individual Disability Insurance Work. What is Disability Income Insurance. A longer term disability can wipe out savings and make it difficult to meet bill commitments. Both short term and long term (LTD) policies are available....

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