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Disability Insurance for New (Young) Professionals

Dean A. Schachter

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The disability insurance companies know that their policies appeal to certain occupations and encourage them to do so. One way is to offer them a policy when they start their careers, even if they have little or no income.

The starting monthly benefits range from $2,000 to $7,500 per month.

The occupations include:






Nurse Practitioner



Physician Assistant

Psychology PhD



Have a Home Office? What are the Work at Home Rules for Disability Insurance?

Dean A. Schachter

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If you work at home and have a Home Office, the rules regarding the purchase of disability insurance vary by company. This is because in many cases the lines are blurred between where your home is and where your office is, unless you have a separate entrance to the office.

Each company can do any combination of the following and the underwriting guide should be checked carefully:

Reducing your income by 75% when calculating maximum benefits if you work ay home 75% or more

Limiting benefit period and elimination period

Eliminating Own Occupation

Eliminating Residual (Partial) disability

Disability Insurance vs. The Federal Employees Retirement System FERS

Dean A. Schachter

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Congress created the Federal Employees Retirement System (FERS) in 1986, and it became effective on January 1, 1987. Since that time, new Federal civilian employees who have retirement coverage are covered by FERS.

If you are a federal employee you are enrolled in FERS for your Social Security and Retirement benefits.

So how does this affect a personal Disability policy?

If you become disabled the FERS plan can be converted into a disability policy. So when calculating how much disability insurance you can purchase as an individual, you must reduce the maximum benefit by how much you already have elsewhere (other personal policies, group disability AND the FERS benefits)

Since FERS is hard to calculate at any given time, companies have preset rules, such as:

No DI coverage if in FERS

Treating FERS like a group benefit.

Reducing the amount of DI you can buy based on how many years you’ve been in FERS.

How Does Social Security & Woker's Comp. affect Disability Insurance Claims?

Dean A. Schachter

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Generally, Disability Insurance claims do not affect Social Security Disability claims or Workmen's Compensation claims and vice versa.

The only exception on the disability claim is if one of your policy benefits is SSDI, which is reduced or eliminated if you collect from Social Security.