Don’t Underestimate Your Disability Insurance Needs

As a government employee, it is important to understand the federal benefits that are available to you in the case of disability. One key benefit is disability insurance, which offers secure financial protection if you are ever injured and unable to work. 

However, many government employees underestimate their need for disability insurance, leaving them vulnerable in the face of illness or injury. 

We discuss why it is crucial to accurately assess your individual disability insurance needs to ensure that you receive appropriate coverage in case of an accident, medical condition, or injury. 

Understanding Your Disability Insurance Needs

When it comes to protecting your income and financial security, disability insurance is a crucial component that should not be overlooked. This is especially true if you are a government employee who may be entitled to certain federal benefits in the event of a disability. However, it’s important not to underestimate your disability insurance needs and assume that these benefits will always be enough.

Federal benefits for government employees can vary depending on factors such as length of service and type of job. While they can certainly provide some level of financial support in the event of a disability, they may not cover all necessary expenses or fully replace lost income. Additionally, eligibility requirements for federal benefits can be strict and difficult to meet.

Disability Insurance: The Facts 

It’s important to understand that disability insurance is not automatically provided to all federal employees. Instead, it is typically offered as an optional benefit that employees can choose to enroll in. This means that if you are a federal employee and want disability coverage, you will need to actively sign up for it.

Here are just a few facts about disability in the United States:

• There are about 61 million American adults that have a disability that limits them from working. 
• Almost 90% of American disabilities are related to illnesses.
• Employer-provided disability insurance isn’t always enough for those who need it. 
• For federal employees, there is no short-term disability insurance coverage. However, those who have worked for the federal government for at least 18 months are qualified for long-term benefits under the FERS Disability Retirement plan.
• Roughly a third of American people between the ages of 35 and 65 will eventually become disabled, necessitating an absence from work of at least three months.
• Any employee who has worked for at least ten years before becoming disabled is eligible for Social Security disability payments, regardless of income level.

Tips To Maximize Disability Insurance Benefits

As a government employee, you may be entitled to federal disability insurance benefits. Whether you are already receiving these benefits or considering applying for them, it is important to understand how to maximize your coverage. 

• It’s essential to understand the difference between private and public disability insurance coverage. As a government employee, you may already have some level of federal benefits through your employer-provided plan. This coverage typically provides partial income replacement should you become disabled and unable to work. Additionally, you may also have access to Social Security Disability Insurance (SSDI), which provides more comprehensive financial support in the event of long-term or permanent disability.

• Familiarize yourself with the details of your policy. Know what types of disabilities are covered, the length of time for which you will receive benefits and any other limitations or exclusions that may apply. Understanding these particulars will enable you to make informed decisions about your coverage and ensure that you receive all the benefits to which you are entitled.

• Keep accurate records of medical treatments and expenses related to your disability. This documentation can serve as evidence in support of your claim and help expedite the process if there are any disputes or delays in receiving benefits.

Preserve Your Financial Security with Federal Educators’ Help

Disability insurance is an important asset to have in case of an accident or disability. Without it, you may find yourself unable to cover basic living and medical expenses. If you are unsure what coverage you have or need help deciding how to secure your future, contact our team at Federal Educators. We are here to help federal employees plan for the future. 

Contact us at 813-755-7037 or fill out our form online to get in touch with one of our professionals today.