Comments on: Disability Insurance: Find What You Have With Your Employer First! http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/ This is where your finance takes place Fri, 10 Oct 2008 23:26:05 +0000 http://wordpress.org/?v=abc By: The Financial Blogger http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/#comment-363 The Financial Blogger Wed, 22 Aug 2007 20:22:31 +0000 http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/#comment-363 MDJ, good point about the "own profession", it is important to verify which type of occupation is covered. I have to check my own... I have no clue! Joel, If I am not mistaken, I think mine is adjusted related to the cost of living. If not, I might have a problem in 20 years! Gates, you bring a very good point too. Most of the time disability comes with additional expenses. In conclusion, I guess a small disability plan could cover for my employer's insurance flaws. However, it is very important to consider all the above mentioned points. Thx for the feed-back! MDJ, good point about the “own profession”, it is important to verify which type of occupation is covered. I have to check my own… I have no clue!

Joel, If I am not mistaken, I think mine is adjusted related to the cost of living. If not, I might have a problem in 20 years!

Gates, you bring a very good point too. Most of the time disability comes with additional expenses.

In conclusion, I guess a small disability plan could cover for my employer’s insurance flaws. However, it is very important to consider all the above mentioned points. Thx for the feed-back!

]]> By: Gates VP http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/#comment-362 Gates VP Wed, 22 Aug 2007 17:22:38 +0000 http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/#comment-362 Hey FB, one of the forgotten pieces of disability is coverage for related expenses. Let's say you get smacked in a car accident and get paralyzed waist down, you'll probably be out for 3-6 months at 85%. However, you're not just lower on income, you're also going to need money to buy some serious stuff. You now need a ramp and a wheelchair and a stairwell lift (or two). So it's also nice to know if these extra expenses are covered. There are usually provisions for loss of limbs etc. But it's also worth checking that you even have these and that they're reasonable. :) Hey FB, one of the forgotten pieces of disability is coverage for related expenses.

Let’s say you get smacked in a car accident and get paralyzed waist down, you’ll probably be out for 3-6 months at 85%. However, you’re not just lower on income, you’re also going to need money to buy some serious stuff. You now need a ramp and a wheelchair and a stairwell lift (or two). So it’s also nice to know if these extra expenses are covered.

There are usually provisions for loss of limbs etc. But it’s also worth checking that you even have these and that they’re reasonable. :)

]]> By: Joel http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/#comment-361 Joel Wed, 22 Aug 2007 16:35:14 +0000 http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/#comment-361 Another important thing to consider is COLA (cost of living adjustment). say you are making 50K/year, and you get 70%. That 35k/year will not buy as much in 20 or 30 years as is does now. Another important thing to consider is COLA (cost of living adjustment). say you are making 50K/year, and you get 70%. That 35k/year will not buy as much in 20 or 30 years as is does now.

]]> By: MillionDollarJourney http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/#comment-360 MillionDollarJourney Wed, 22 Aug 2007 12:24:22 +0000 http://www.thefinancialblogger.com/disability-insurance-find-what-you-have-with-your-employer-first/#comment-360 FB, also note that if you are paying a portion of your job benefit, your disability benefit is not taxable if you have to collect. So you want to compare your disability benefit to your "after-tax" income. Another note about disability insurance, "own occupation" disability insurance will protect you against injury that prevents you from doing your <b>own profession</b>. If you don't have this type of insurance, the insurance co will expect that you do "any type of job" after a certain period of time. FB, also note that if you are paying a portion of your job benefit, your disability benefit is not taxable if you have to collect. So you want to compare your disability benefit to your “after-tax” income.

Another note about disability insurance, “own occupation” disability insurance will protect you against injury that prevents you from doing your own profession. If you don’t have this type of insurance, the insurance co will expect that you do “any type of job” after a certain period of time.

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