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Health Insurance Guide
Disability Income Insurance
When a person becomes disabled and unable to work, at some point their income will stop. It might be sooner or later, but unfortunately, life goes on and daily living expenses continue to mount.
Disability income insurance is available to continue at least a portion of ones income while unable to work. It’s sad, but most people give more attention to life insurance than they do about income replacement should they become disabled.
Disability income insurance is available individually or sometimes as a portion of a group benefit provided by an employer in their group package.
Individual policies are most often sold to self-employed and professional people. The amount of the benefit relates to earnings and is matched as close to after tax income as possible. Generally it is up to 60% of monthly net income and there is usually a cap on the amount.
When included as part of a employee group benefit package, disability income policies are usually more liberal than individual plans as far as limitations and exclusions. It is also much easier to acquire coverage. As a general rule, group plans are much less costly to all parties.
Disability income protection should be an element of your entire financial planning. The importance cannot be overestimated because it relates to your overall family finances.
Whatever you situation may be, disability is one of the most important factors when you consider you inability to work and produce income.
Some things to consider when determining disability income needs are:
- Establish the bare minimum required if income stops.
- Determine your retirement needs if work ceases and the ability to pay into the retirement ends.
- Allow for any benefit that might be offset by social security and workers compensation.
Usually short-term policies cover non-occupational disability but most long-term policies cover both occupational and non-occupational sickness and accidents.
Learn more about disability income insurance in Your Guide To Good Health Insurance.
Health Insurance Plans
Complete Health Discount Plan
Benefits include savings on physician care, prescriptions, dental and vision, chiropractic, diabetic supplies and much more. Additionally, a single membership covers an entire family.
Aetna Dental Discount Plan
This discount dental program offers discounted fees for services performed by dental providers in the network. Members can receive the necessary dental care to keep good oral health while paying reduced fees.
Prescription Drug Plan
The Outlook Prescription Drug Plan includes two avenues for members to receive prescription savings. Each member has access to the largest retail pharmacy chain in the nation, plus members have access to the largest mail order pharmacy
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