- Employer
Sponsored Group Disability Plans. Purchase any buy-up group options, especially on long term disability insurance. If your employer does not offer this option, have them contact us to work with them on inexpensive options.
- Short Term Disability
If your employer does not provide this coverage, most people should avoid buying it. Unless you can’t go 90 days without a paycheck, or a young female, who anticipates pregnancy in the next several years.
- AFLAC
These policies are very expensive and are subject to medical underwriting and pre-existing condition waiting periods
- Paying the Premium
We recommend the employee pass the premium with after tax dollars, so the disability benefits are tax free. If the employer pays the premiums, when you receive the disability benefits at 60% of your income, the benefits are taxable.
- Individual vs. Group
Depending on your income level, you should have a combination of both. The higher your income, or no group long term disability plan, you should look into purchasing an individual disability policy. Individual disability policies usually provide better benefits, but at a higher premium.
Who Needs Disability Insurance?
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