There is often a false sense of security that comes from the assumption that many, or even most, disabilities would be covered by worker’s comp. In fact, less than five percent of disabling accidents and illnesses are work-related.
Are your disability benefits taxable? Generally speaking, if your employer pays for the policy, your disability benefits are taxable, and must be reported to the IRS as income. If you pay the policy premiums, you don’t have to pay taxes on it again.
Disability and the ensuing loss of income has huge financial implications that few are prepared for. Without the ability to obtain a steady income, workers may fall behind on payments. In fact, about 77 percent of consumers said they would not be able to pay their bills for more than a year if they suffered a loss…
Many people, even those convinced disability insurance is a great idea, just don’t know what to expect from disability insurance rates. That’s largely because it’s not easy to simply throw out a number—rates very person to person, depending on the circumstances.
Many families grapple with how to cover unpaid family leave without causing serious damages to the family’s finances. Fortunately, there are steps you can take in order to protect your income if you’re thinking about starting—or expanding—your family.
Now there are alternative solutions to the traditional disability insurance coverage mindset. Newer plans incorporate wellness and rehabilitation into the disability process, and encourage employees to take a more active role in their well-being, recovery and return to work
When people become disabled, dealing with finances can be incredibly stressful. And, as the newly disabled begin to look at their budget in this changed landscape, one of the first questions is often, “What does Social Security disability pay?” The answer: It depends. Getting Social Security Disability Pay First you need to know whether you’ll even qualify for Social Security disability…
For the last week of Disability Insurance Awareness Month, we’ll be taking to social media to give away disability awareness mugs. All you have to do to enter is answer some simple trivia questions—and we’ll even give you the keys to finding the questions right in the trivia questions!
Deanna Strable of Principal Financial Group corrects some misconceptions about disability insurance, including this: Tragic accidents aren’t the leading cause of disabilities. Illnesses are
Disability isn’t always a black and white, cut and dry scenario. Sometimes, a disability simply prevents a worker from full-time employment, which makes the rules of working while on disability oftentimes very grey. Think about it this way: Let’s say you’ve been diagnosed with a treatable form of cancer. You need to undergo chemotherapy. For many people, chemotherapy…