Disability Insurance Plans — Short & Long Term Disability Coverage
If you are disabled or can’t work due to illness or injury, disability insurance will pay you a portion of your income. For those who are self-employed or who don’t get disability insurance from their employer, getting individual disability insurance is especially important, so they are still able to pay their bills while unwell.
McGregor Benefits is an independent health insurance agency that will help you find disability insurance that provides adequate coverage.
What Is Individual Disability Insurance?
If you are unable to work due to an illness or injury disability insurance covers some of your income. That means a more peaceful recovery. Disability insurance isn’t there to make you rich.It’s there to help you pay the bills and put food on the table if something happens to you.
Our service is.
All you pay for is the premiums, which are the same with or without our help.
Individual Disability Insurance Plans in Washington State
Understanding and getting disability coverage is highly important, so you are able to pay bills when you are unable to work. If your employer doesn’t provide disability coverage or if you’re self-employed, contact our disability insurance brokers in Washington state. We are ready to answer any questions you have, and help you pick a plan that will provide sufficient coverage.
Benefits Of Disability Insurance
People who do not have disability coverage will typically try to rush their recovery, so they can return to work quickly. Private disability insurance (i.e., if you’re paying the premiums), prevents you from pushing yourself to quickly and eases income concerns.
- Recovery Time. Without the need to return to work as soon as possible, you can allow yourself more time to recover.
- Tax exemptions. Your benefits will be tax-exempt.
- According to the Social Security Administration (SSA) one in four 20-year-olds will become disablied for 90 days or more before they turn 67 years old.
Problems with Disability Insurance
Unfortunately, not all health conditions qualify for disability insurance. Only if your condition is among the ones covered will you be eligible for disability benefits. Even if you have a condition that’s on the list, if it isn’t severe enough or you are not able to demonstrate clearly that it affects your ability to work, you may not receive any payment.
Before purchasing private insurance, make sure you discuss your expectations with the agent, so you can make the right decision.
Disability Insurance FAQs
Does Washington state have disability insurance?
Washington state offers Paid Family Medical Leave.If you have worked 820 hours, you typically can get 12 weeks of paid leave per year. What happens if you are still unable to work after PFML? A Long Term Disability plan could help.
When should I buy disability insurance?
The healthier and younger you are the more affordable your premiums will be.
Check with your employer if they offer disability insurance. If they do not, reach out to the insurance professionals at McGregor Benefits. An agent can guide you through the process of choosing the right disability plan for your specific situation.
What Types of Individual Disability Insurance Are There?
Disability insurance can be short-term (STD) or long term (LTD). Basically, they both replace your income, one is for a shorter period of time than the other.
Short-term Disability Insurance STD
If you are disabled for a short time – usually between three to six months you could get a portion of your income. With disability insurance, you must be unable to work for a certain amount of time before you can receive disability benefits. This time period is called the elimination period, and it is a lot shorter for short-term disability insurance – typically between 30-90 days.
Long-term Disability Insurance LTD
As the name implies, LTD benefits someone who is disabled for a long time – 3+ months. The elimination period for long-term disability insurance can be as long as a year. A common plan would replace 60% of your income. Most people prefer to buy long-term disability insurance, since it provides coverage for a longer time period. We tend to agree that LTD plans are worth the investment.