The Value of a Disability Policy as a Federal Employee
Whether there is a level of risk inherent to your job or not, there is always a chance that a medical issue or injury may leave you unable to work. This can be a scary time for you and your loved ones, having lost a major part of your earning power for an unclear amount of time and leaving you feeling vulnerable and uncertain about your future. There is also the possibility of further financial hardship due to medical bills. The good news is that as a federal employee, you have a few more options than the average worker. Here’s a closer look.
Do I Really Need A Policy?
If you’re on the fence when it comes to a disability policy, it may pay to put things in a new context. For example, if you had a valuable asset, like a car or home, you would be scrambling to put insurance on it. But what exactly is the asset that pays for those assets? That would be your capacity to make a living and earn, and disability insurance helps you keep protected in that regard. Don’t think it will happen to you? According to the Social Security Administration, more than one in four 20-year-olds will experience a disability for 90 days or more before they reach 67.
Part of the reason why people fall into the trap of thinking they will be okay is that they only think of the most extreme examples of accidents for disability claims. However, back injuries, cancer, heart issues, and other more common medical problems are behind the bulk of disability claims. If you’re a federal employee, you may need to take time off for treatments and recovery, and you want to be financially protected.
Your Disability Policy Options
One area where people trip up is thinking that the work leave they qualify for is a part of their disability coverage, but they are actually two different entities. As a result, you don’t know when one set of benefits will kick in and one won’t. If you plan on relying on social security disability insurance, this will be tied to your earning power and how long you are a federal employee. When it comes to something as important as your ability to make a living, you don’t want to be caught by surprise, which is why you want to invest in supplemental coverage as well. The idea here is not to replace the benefits you already get, but to help fill in the gaps so you have peace of mind.
If you’re a federal employee who is still looking for some help in this area, it’s a smart decision to reach out to us at Secure Choice. We offer a voluntary group disability policy that can pay you in addition to your sick/annual leave if you find yourself unable to work due to accidents or illness. Maternity will be covered as well after you have the plan for 9 months. Get in touch with us for more information on how we can help you stay protected.