disability insurance question?

Question

im in what you could call a temporary position even though I'm getting 43 hrs a week, still part-time as the company hasn't switched my status to full time and most likely wont change it while in this position. Im only filling in for someone who is absent due to pregnancy. I make a measly 10 bucks an hr and as I said the position is temporary and sooner or later I should be moving into a real position that has a salary compatible with someone with a masters degree which may or may not be with the same company. So my reasoning is that I should just wait until I have a full-time position with stability and good income before I worry about getting short and/or long term disability income insurance...Does that reasoning make sense to others or should i get disability anyway even though my salary is bound to change probably within no later than 3 or 4 months....??

oh by the way as a part-time employee I would have to also purchase the disability income insurance outside of the company since it isnt offered for parttime employees.

im 28 years old

im healthy and have a good deal of savings

wouldnt social security or whatever governmental or state funding care for my needs if I became disabled anyway since im only making 10 bucks an hr I wouldnt see it being much of a stretch what sort of requirements are there for a person to get help from the government in the case of a disability?

Answer 1

You should definitely buy your own policy! Even when the group puts you on their insurance you will want to keep the individual policy. SS benefits only pay out if your disability is likely to cause your death. Get as much as you can an increase it everytime you get a salary increase. Your income is your most valuable asset!

Answer 2

1

Answer 3

The answer to this really depends on your age, financial situation, and health. While not all disabilities are age or health related, if you are elderly (i'm not getting that impression from the post) or if you have known health conditions that may keep you out, then you should go ahead with the insurance. If you are younger and healthy, it may be okay to wait until the change in position comes. As a general rule though, you don't know when a disabling event will occur, and if you can afford the insurance, its really nice to have!

Answer 4

merely ask your self the place the money might come from if ....... I had a foul motor vehicle accident My living house burned down i'm getting maximum cancers I actually have a back harm and could't artwork I die i assume you're authentic.... coverage is a rip-off. CTU, you're 5 cases greater probable to desire incapacity reward than dying reward. despite in case you have a existence coverage, the coverage company would possibly not pay out an speeded up dying benefit to assist with the a loss of earnings. evaluate somebody in an accident which will become disabled (can now not artwork through circulate harm) and nonetheless has a protracted existence expectancy. might a term coverage pay? an entire financial statement needs to handle the two dying and incapacity. something much less is merely rolling the cube.

Answer 5

To answer your last question about government benefits, you can not draw SS disability benefits until you have been disabled for 2 years. You may be eligible for some state help if you have spent all your savings and have no means of support. So, as you can see, it does make sense to purchas a disability policy if you can afford one.

Answer 6

You should definitely buy disability insurance now. It is very cheap, and if you get a raise, your benefits will reflect that. You never know when you might become disabled. Something like Hepatitis A can lay you up for several months.

Answer 7

depends on your age and how healthy you are. if you're in good shape, i'd wait for new employer, as most of them provide short term and some provide long term, so wouldn't need to go buy an individual policy.