Florida Disability Insurance

Florida Disability insurance is offered by very few work places in Florida. When the paychecks stop then the 35 year old reverts back to an adolescent dependent on others. For many of us, our Mom and Dad are not there to bail us out. The closest people in our lives are our co-workers and boss. So, in effect, Joe six pack who gets disabled while water snorkeling will be coming to his former boss and former co-workers for handouts for years to come.

Florida disability insurance should be based on the following facts.

5% of your paycheck is saved for a "rainy day" yet six months of not working will eat up ten years of savings.

Workers compensation insurance coverage is for on-the-job injuries exclusively.

70% of workers will become disabled for at least 3 months between ages of 35 and 65.

14% of workers will be disabled for 5 years or more before age 65

The savings of the average Florida household is two months of paychecks.

Many serious disabilities last over 5 years - Florida is full of folks who once had good jobs.

Florida Disability Insurance is a very important need

"I am in excellent health, nothing will happen to me"

A common misconception. A car accident or simply getting sick can happen to any of us. There are numerous ways that people become disabled, temporary or long term. The numbers cut to the chase. 70% of workers become disabled for three months or longer between the ages of 35 and 65.

"Social Security is there for me"

Social Security benefits take an extended period of time to kick in. The Social Security disability eligibility requirements are that a person is unable to work at any job. So if a medical doctor would be physically able to be the night watchman at the local country club, then Social Security disability would not pay a cent.

Another point to ponder is the amount of social security payments that we are talking about. A 30-year-old earning $70,000.00 per year would collect just $19,200 per year in social security disability benefits. Try telling Joe six pack who earns 70k per year that he must now sell all his stuff and move into a small apartment with roommates.

• 1993 - 55 % of 1.4 million applications received by Social Security were denied.
• 1998 - 35% of Social Security disability claims were approved.
• An approved claim by Social Security requires at least 5 months passing by before payment.
• "Inability to perform any gainful work" is Social Security's eligibility requirement.
• 12 months is the time frame the disability must be expected to last by Social Security

"My worker compensation coverage will protect me!"

Florida is notorious for miserly payments for workers compensation. Group Florida disability insurance plans through an employer are really important yet less than 40% of companies with over 100 employees provide.

Florida disability insurance coverage. Less than 18% of companies with fewer than 100 employees provide Florida disability insurance coverage.