Medical Care
An accident or illness may make it impossible to work. This may mean a drastic drop in income. Disability insurance benefits replace part of the wages lost.
If you’re considering buying a disability insurance policy, ask the following:
* What percentage of your pre-tax salary is paid out? (50 to 60% is average.) How are benefits paid out? Are payments the same or greater in the first few months?
* Is there a guarantee that the policy can be renewed?
* How long will benefits be paid? Months, years, a lifetime?
* Are pre-existing or chronic conditions included?
* Can you get disability insurance from your place of work?* How much will this cost you? Group policies may be more flexible on chronic conditions.
* Veterans can get information on disability compensation from 1-800-827-1000 andwww.va.gov.
© American Institute for Preventive Medicine