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Comprehending the Types of Disability Insurance Coverage

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When the majority of people consider “disability insurance,” they think of Workers Payment programs supplied by all 50 states. That’s since Employees Comp, as it’s normally called, insures over 130 million Americans today against the threat of workplace injury through premiums paid by both employees and companies. In 2011, the last year for which complete information is available, these combined programs paid out over $60 billion in medical and wage advantages to handicapped employees.

In addition to these state programs, the federal government plays a leading role in offering Americans with long-term impairment protection. In Fiscal Year 2014, around 11 million Americans will get Impairment Insurance take advantage of the Social Security Administration totaling $145 billion. In addition, the Supplemental Security Income (SSI) program, which provides financial support to aged, bl …

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