Disability Insurance is a type of insurance policy you can purchase to replace some of your income if a disability leaves you unable to work. This is how Social Security Administration defines disability: “Disability” under Social Security is based on your inability to work. We consider you disabled under Social Security rules if:
- You cannot do work that you did before;
- We decide that you cannot adjust to other work because of your medical condition(s); and
- Your disability has lasted or is expected to last for at least one year or to result in death.
This is a strict definition of disability.
Social Security program rules assume that working families have access to other resources to provide support during periods of short-term disabilities, including workers’ compensation, insurance, savings, and investments.
No disability benefits are payable for partial disability or for short-term disability.
Disability is something most people do not like to think about. But the chances that you will become disabled probably are greater than you realize. Studies show that a 20-year-old worker has a 1-in-4 chance of becoming disabled before reaching full retirement age.
These Disability Insurance resources provide you with additional Disability Benefits programs:
You can also read stories about Disability Insurance at HypoGalBlog.com
You can read HypoGal’s Story with Disability Insurance at Amazon’s highly ranked business law book: HypoGal and Disability Benefits.