There are a number of different types of insurance that might help to pay for your injuries and your salary should you be unable to work. For example, Workman’s comp will pay for injuries that occur at work as a result of you doing your job. If you are in an auto accident, either your auto insurance or that of the other person involved will pay at least some of the costs. However, the most comprehensive type of insurance for those that are unable to work due to illness or injury is disability insurance. Many employers offer some type of coverage to their employees. However, it is also possible to get supplemental disability insurance. Many people do without this type of insurance, though it can be very helpful.
If you have disability insurance through your employer, that is great. It is a good start. There are a few things you might want to keep in mind though. Because you are not paying the full premiums yourself, any benefits you receive through this coverage is taxable, so you will get less than the full amount. This coverage also is likely to pay less than 100 percent of your salary, and in some cases a lot less. Continue reading ‘Do You Need Supplemental Disability Insurance?’ »
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