Disability Insurance Coverage

Disability insurance coverage makes it possible for someone who is ill or injured to collect replacement funds for his usual paycheck until recovery, but is not mandated by law, so must be voluntary. While large businesses commonly provide coverage with their employee benefit package, some small businesses do not. Personal policies are available where the employer does not provide it. For a business owner, disability insurance coverage for himself has to be a personal policy, even if he has provided it for his employees. The disability insurance for a business owner can also include an allowance for overhead expenses while he is disabled, so that his business doesn't fail when he's not there. There are specific policies geared to certain occupations. Physicians, professionals of all kinds, small business owners, consultants, and government employees are some of the special categories of policies available.

There are alternatives to this kind of policy, but they are limited. Social Security offers disability insurance benefits, but the incapacity must prevent a person from any work whatsoever for at least a year, or the incapacity is expected to end in death. Severe limitations, to say the least! Workman's compensation coverage isn't a good alternative to disability policies because it is specifically limited to job-related injury, and the amount they pay is limited to less than full salary replacement, as well. Private policies for disability insurance policies are limited to occupations that are not risky. There are separate categories of incapacity coverage for every profession a person can name, where the employee or professional spends most of his time in an office, lifting nothing heavier than a briefcase. For those who work on construction sites, or secretaries, or salespeople who earn less than $50,000 a year, a disability policy isn't offered.

Accidents and illnesses can cut off the most vital funding a family has, the salary of the head of household, without disability coverage. Where a degreed professional is not covered by the policy provided by an employer, it is an policy that should be part of the family's insurance package, if possible. Even if a worker has been diligently saving money during his working years, without this coverage, a lifetime of savings could be wiped out in short order. In many cases, extended family members will be able to help for a while, that's usually very limited as a replacement for disability insurance coverage. It's easy to tell workers to be sure they are working for companies that offer incapacity coverage, but it isn't always possible. Coverage of all kinds is important in modern life, but Christians depend on another kind of safety as well: "Hold thou me up, and I shall be safe: and I will have respect unto thy statutes continually." (Psalm 119:117)

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