Can Group, Private Disability Policies Work Together?
根据社会保障局的说法, a 20-year-old has more than a 25% chance of becoming disabled before reaching retirement age.1
Loss of income for such a duration has the potential to cause significant financial hardship. And while Social Security Disability AG捕鱼王在线app下载 may help, it’s critical to understand that about two-thirds of initial applications are denied and the average SSDI payment is only $1,每月534英镑.2,3
Disability coverage may be available through your employer, who may pay all or a portion of the cost for your coverage.
Employer plans typically pay up to 50% to 60% of your income. This limited coverage might not be enough to meet your bills, which is why you may want to supplement employer-based coverage with a personal policy. Supplemental policies may be purchased to cover up to about 70% of your income.4
残疾福利的课税
当你购买个人残疾AG捕鱼王在线app下载时, the benefit payments are structured to be income tax-free. 因此, you may not be eligible for coverage that equals your current salary since your take-home pay is always less.
If your employer paid for your coverage, then the income you receive generally will be taxable. If you paid for a portion of the employer-provided coverage, then the pro rata amount of the benefits you receive are structured to be tax-free.
选择，选择，选择
Consider the waiting period before disability payments begin. 更长的等待时间可以节省你的钱, but it also means that you may have to live off your savings for a longer period. You are the best judge of how much of this risk you are comfortable assuming.
You also may want to coordinate the waiting period with any short-term disability benefits you could have. 例如, if your short-term disability covers you for 90 days, look to have at least a 90-day waiting period so that you can potentially lower the cost of the long-term policy.
询问一项政策是如何定义无法工作的. Some policies will say “the inability to do any job or task;” others will say “own occupation.” You may prefer the latter definition so you’re not forced to perform some less-skilled, 工资较低的工作. That type of work may not help you meet your bills.
1. 社会保障局，2024年
2. Disability-Benefits-Help.org, 2024
3. SSA.政府,2024
4. Investopedia.2023年7月23日
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. 请咨询法律或税务专业人士 for specific information regarding your individual situation. This material was developed and produced by 消费品套件 to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. 所表达的意见和 所提供的资料仅供一般参考, and should not be considered a solicitation for the purchase or 出售任何证券. 版权 消费品套件.
