Disability Income


Social Security payment is an important part of disability income. There are other sources of income for disabled individuals. These sources are as below:

Worker compensation benefits accrue to persons who were disabled during the course of work due to an accident or are suffering from illness that has been contracted because of the nature of the work of the individual. Miners can avail of block lung programs for their benefit. For senior citizens there is veteran administration pension disability income. The federal or state government pays civil service disability pay to its workers. The state also runs vocational rehabilitation programs.

Besides this there is group union disability coverage. Disability benefit also accrues in the form of automobile insurance in cases where an automobile accident is the cause of the resultant disability. Provisions are also there for monthly loan payments in case of disabled persons. Many private insurance and credit disability insurances arrange for monthly loan repayments of disabled individuals.

Special provisions are made for disabled persons having low income and limited assets. They can avail of Medical aid for health related expenditure. Supplemental Security Income (SSI) is another source of income for the economically weak disabled individuals.

It is important to determine for which disability benefit you qualify. The availability and limits of these disability related programs vary from area to area. If you think you are eligible then do make an inquiry as to how the benefits will be paid. An agent can help you to analyze sources of income for disabled and assess the waiting period of various benefits. He can also tell you if it is beneficial to have additional coverage or not.

The total of the various incomes you receive for being disabled may or may not be taxable, depending on the kind of benefit and who had paid the premiums. Individual disability income insurance benefits are tax free if you pay the premium after tax.