How does long-term disability insurance work?

The US government estimates that 1 out of 4 workers will get hurt and be unable to work for an extended period at some point in their career. For those without insurance, becoming disabled means no income coming in to cover food, shelter, and other necessities. It might also mean no income to support a family or others that depend on you.

Long-term disability insurance is designed to give you a paycheck if you get hurt and can’t work. It helps you pay the bills, so you can protect those who depend on you and focus on getting better. Anyone who works and depends on a paycheck should have long-term disability coverage in place.

About 1/3rd of American workers have disability coverage at work, but coverage is skewed heavily to larger companies. If you work at a smaller company or are self-employed, you likely have limited to no coverage. If you don’t have any coverage at work, you can protect yourself by purchasing an individual disability insurance policy by working with an independent agency, like Saturday Insurance.

Even if you do have coverage at work, double-check to see if the benefits would be enough to cover your expenses if you got hurt. There are often limits with work coverage, so if you earn more than $75,000 per year, your coverage might not be enough. In this case, purchasing an additional individual policy to “top off” your benefits could be a cost-efficient way to ensure you and your family are fully protected.

Interested in learning more about how to select the right disability insurance policy? Click here to check out our next FAQ.

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Saturday Insurance Services, LLC (“Saturday” or “Saturday Insurance”) is a licensed, digital insurance advisor. All tools, quotes, and information provided by Saturday are for educational purposes only and based on the limited information, if any, provided by you. We urge you to consult with your financial and tax advisors before making any purchase decisions. All quotes and estimates are non-binding and are not to be construed as a guarantee you will be able to purchase insurance. Availability of insurance and final pricing is determined solely by our insurer partners and subject to their review and acceptance of a completed application. All product guarantees are subject to the claims-paying ability of your insurer.