When we think about disabilities, we often think about the extremes, such as the loss of a limb, the loss of motor skills, or blindness. But the fact is that disabilities that are much more common, such as heart disease, can be life-changing as well.
Disabilities do more than take a toll on your body — they can affect your financial stability and overall lifestyle as well.
If you have a disability, or are looking to prepare yourself should you become disabled in the future, here are five benefits for people with disabilities that you should look into.
Short-Term Disability Insurance
Many employers provide short-term disability benefits as part of the employee benefit and compensation package. You can qualify to receive short-term disability benefits through your employer if you suffer a disability that prevents you from doing the job you were doing at the time of your illness or injury.
Depending on the type of policy you have, you may be eligible to collect monetary benefits for as little as 30 days or as long as 12 months.
Social Security Disability Benefits
The Social Security Administration offers Social Security Disability Benefits (referred to as SSDI) for people with qualifying disabilities. The operative word there is qualifying.
SSDI benefits are only available to those with a total disability expected to last for at least one year or result in death. In addition, your disability must render you unable to perform the work you did prior to your illness or injury as well as any other type of work. In other words, you must have a condition severe enough that you cannot work at all.
If you do qualify to receive SSDI, the amount you can receive each month varies depending on how much you earned when you were working and how many years you worked and paid into social security.
Long-Term Disability Insurance
An individual long-term disability insurance policy is the best way to protect yourself with financial benefits. Unlike SSDI, even a slight disability or injury can be a qualifying condition.
How?
The definition of disability.
All insurance companies attach a “definition of disability” to their insurance policies, and you need to meet that definition in order to qualify to receive benefits. Some insurance companies offer what is referred to as the own-occupation definition. The own-occupation definition of disability is the easiest one to meet.
With the own-occupation definition, you will qualify to collect benefits for any injury or illness that prevents you from doing your current job, even if you could potentially work hundreds of other jobs with that same injury. You can even collect benefits and work another job if your disability doesn’t render you unable to work at all.
Long-term disability insurance benefits with the own-occupation definition of disability can pay out up to 60% of your current pay, and the benefit period can last from two years all the way up until retirement age. People who suffer disabilities early in their career could potentially collect benefits for decades.
Checkout this guide from Physicians Thrive to learn more about disability insurance and discover who the best disability insurance companies are.
Government Housing Benefits
Depending on the nature of your disability, you may be able to receive housing benefits from federal, state, or local governments.
Many states offer public housing programs and subsidized housing programs for people with disabilities. Some states also offer housing grants to help homeowners make modifications to existing homes, such as adding handicap accessible ramps.
For more information on housing benefits, visit USA.gov.
Charitable Organizations
From direct care to medical equipment to free transportation to treatments, there are a variety of charitable organizations that provide various benefits and services to people with disabilities.
Easterseals, Friends of Disabled Adults and Children, and the American Cancer Society are just some of the many nonprofit organizations that offer benefits to ease financial burdens and improve the quality of life.
The best way to find charities that can provide you with useful benefits and resources is to search for nonprofits dedicated to your specific disability or illness.
In Conclusion
Whether you already have a disability or are making future plans to protect your finances and family, there are many resources and benefits available for people with disabilities.
Look into:
- Short-term disability insurance (usually offered by employers)
- Social Security disability benefits (SSDI)
- Individual long-term disability insurance with the own-occupation definition
- Government resources that provide housing benefits
- Charitable organizations that offer transportation, direct care, and essential services
Living with a disability can be challenging, but seeking out benefits and resources to help can make it a little bit easier.