Health Care Insurance

health care safety and quality

Are you covered for Short-term disability


Short-term disability is private insurance that replaces some of your income if an injury or illness prevents you from working. While you are away from work it pays you a percentage of your income for a defined period of time.

Some employers provide group policies as part of their benefits packages. If your employer does not offer short-term disability or you want additional coverage you can buy an individual policy from an insurance agent.

State temporary disability insurance (TDI) programs are currently available in six states/territories:

  • California
  • New York
  • New Jersey
  • Rhode Island
  • Hawaii
  • Puerto Rico (Spanish)

For a longer illness lasting six months or more your employer may provide group long-term disability (LTD) insurance. The Federal Citizen Information Center (FCIC) offers an LTD guide that includes information about individual disability income insurance and offers tips and a checklist on buying the right policy for you.

Social Security provides long-term disability benefits based on your salary and the number of years you have worked and contributed to the Social Security system. However, Social Security replaces only a limited portion of your salary, and the qualifications to receive benefits are very strict. To be eligible for Social Security disability benefits, all of these conditions must be met:

  • You have been disabled for five full calendar months.
  • Your disability is expected to last at least 12 months or end in death.
  • You are unable to be gainfully employed at any occupation, not just your occupation at the time your disability began.

Disabilityinfo.gov is the federal government’s web site for disability-related information and services. You may wish to access information about disability benefits, or locate state and local resources.

If you were injured on the job, you should contact your state workers’ compensation office.



 

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Posted on on May 30th, 2008 in Getting Help, Government help, Protect your Health, Uncategorized | 3 Comments »

Mortgage protection insurance who needs it?


The majority of homeowners never stop to consider what would happen if they suddenly didn’t have the ability to make their mortgage payment. Everyday people find themselves facing sudden illnesses, a death in the family or a natural disaster that prevents them from having the necessary funds to pay their mortgage. With mortgage protection insurance all homeowners can have the extra protection they need.

Many of those who buy a house and finance a mortgage are young and very healthy. They really don’t foresee anything happening that could interfere with their ability to hold a job and make money. However, illness and accidents to happen and unless you have mortgage protection insurance in place, you are likely still responsible for making your full mortgage payment even if physically that’s not possible.

A common problem that people find themselves facing is being hurt in a car accident. Auto accidents can be very serious and depending on the job you do, you might not be able to go to work for several weeks or months. Although you are likely to realize a monetary settlement from the accident if you weren’t at fault that can take years. In the meantime you have a mortgage to pay and no job to do that.

If you have mortgage protection insurance that includes accident coverage, your mortgage payments will be made until you can return to work. Illness is much the same. Cancer, heart disease and strokes strike people of all ages, all the time. Serious illnesses typically prevent a person from working in any capacity.

Without a regular salary coming in they can face the reality of losing their home to foreclosure. With mortgage protection insurance, they can apply for coverage once they can no longer work. Typically a doctor is assigned to the case and his or her findings will help determine how long coverage will be extended for. For a family already facing the hardship of a life-threatening illness, having to worry about losing their home shouldn’t be a concern at all.

Most companies that offer funding for homes will have these types of policies available. The representative that you work with during the loan process will usually initially ask you about whether you are interested in mortgage protection insurance. Many homeowners turn it down because they are concerned with saving the few dollars a month it would cost. It’s certainly a personal decision but it’s incredibly important to weigh the benefits of having mortgage protection insurance against what could possibly occur if you didn’t. Think about the long term effects of a serious illness or accident and just what your family may risk losing if you don’t have the mortgage protection insurance in place.

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Posted on on May 16th, 2008 in Protect your Home | 1 Comment »