Things You'll Need:
- Health Insurance
- Insurance
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Step 1
Calculate current assets and liabilities to determine how long you could go without your current income after sick leave and vacation are used up.
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Step 2
Write down that number of days.
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Step 3
Determine how much short-term disability insurance your employer provides for you and write down that number of days.
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Step 4
Determine how much long-term disability insurance your employer provides for you and write down that number of days.
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Step 5
Add up all the days from above and convert to years.
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Step 6
Add those years to your age at your next birthday. For example, 5.5 years plus 32 years old equals 37.5 years.
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Step 7
Subtract that number of years from 65 to arrive at the approximate number of years you are at risk should you become unable to work as a result of an accident or prolonged illness. For example, 65 minus 37.5 equals 27.5 years.
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Step 8
Decide whether you are willing to accept that risk yourself, or whether you would prefer to transfer the risk to an insurance company, if you can qualify.
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Step 9
Call your employee benefits department and apply for or buy as much of the company's group coverage as you can.
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Step 10
Make up any difference between your company's coverage and your needs with disability income insurance from a quality disability income insurance company.









Comments
maryanne09 said
on 7/18/2009 Thanks for writing this on How to Buy Disability Income Insurance! 5*'s :o)
DaveThompkins said
on 4/30/2009 If you are a business professional seeking to purchase Disability Insurance, http://disabilityinsuranceplan.blogspot.com has the top 10 things you need to know.
scdaniel said
on 3/1/2009 Consider that LTD insurance is not overly expensive be sure as the employee to pay the whole premium so future benefits are not taxable.