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3: Analyze Your Circumstances

Understand Disability Plans

SAM tips

Learn More About Disability Plans
Visit SAM’s Money Basics: Insurance course to learn more about disability plans, what they cover and what to look for.

leg in a cast

Check into disability income coverage through your employer or purchase your own policy in case you or a family member becomes permanently disabled and cannot earn an income. A non-cancelable, guaranteed policy is good until you turn at least 65.

Some employers provide short-term and long-term disability as part of their benefits package, which is usually less expensive than getting your own. But limitations may require you to buy supplemental individual coverage.

No disability insurance will replace 100 percent of your income, but it can provide enough to pay immediate bills until you return to work full time. Talk to your human resources department about disability coverage offerings. If your employer does not offer such a plan, seek out an individual plan to protect yourself.

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