How Disability Insurance Works?
61667 POINTSview profileSteve SavantSyndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale ArizonaDisability insurance is paycheck protection. The first item of consideration is the elimination or waiting period. Most working Americans have around 90 days on cash reserves for an emergency, so 90 day elimination period. Your waiting period may vary. If you experience a prolonged sickness and/or recovery from injury, you policy would pay a tax free monthly income to you.Answered on September 9, 2013flag this answer
2180 POINTSview profileKelly MoserSocial Media Strategist, Disability Insurance Services, CaliforniaDisability Insurance, commonly referred to as paycheck protection, pays a portion of your income should you become sick or disabled and are unable to work. Each policy has a pre-determined waiting period (how long until you start receiving payments) as well as a benefit period (how long you'll receive payments). The provisions in your policy are determined by your age, current health, and most importantly, your occupation.Answered on September 9, 2013flag this answer
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