Where to Purchase Disability Coverage

You can purchase disability insurance in Seattle from an insurance company or if your employer offers it as a benefit, you can purchase it through your employer.  Whether you purchase disability coverage through an independent insurance agent or through your employer, it is very worthwhile coverage to purchase.

If you were to become injured or ill and unable to work for a long time-period, you would need some way to pay your bills.  If you do not have any sort of disability coverage, you might be forced to rely on family members or charitable organizations to help you through times of disability.  Do you want to be such a burden to anyone?

If you are covered by disability insurance, however, in the event of your disability, you would be able to meet all of your financial obligations through the benefits that your disability coverage provides.  Usually, short term disability policies cover you for a time-period of thirty days to six months and long term disability policies cover you for a time-period of six months up to the rest of your life, so regardless of the type of injury or illness that you might have, your bills will be covered in the event of an emergency if you purchase disability coverage.

Most Seattle employers offer some sort of short term disability, whether it is simply sick leave for a few days or for six months.  Many employers also offer group policies for which you make a contribution to the premium.  These policies are often preferable because if you make contributions to your own premiums, the benefits from the policy are not taxable.  Because you will only receive about 60% of your income from just about any disability policy, you will make up three quarters of the remaining percentage of your income if you do not have to pay taxes on the benefit.

About half of all large employers in Seattle also offer long term disability to their employees.  Many do not ask for a contribution from employees for such policies.  Long term disability picks up where short term disability leaves off.  Once your short term disability is exhausted, you may make a claim on your long term disability.  Again, if you have paid your own premiums for the long term disability, you will not have to pay taxes on the benefit.

You can also get special types of disability insurance from your mortgage company and from finance companies.  These policies cover your mortgage or payments on a car or other large item in the event that you become disabled.

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