What is disability insurance and how much does it pay?

Texas's insurance department states the basic shape. Disability insurance pays part of your income if you get sick. The same goes for a physical or mental disability that keeps you from working. The amount you get paid is usually a percentage of your pay [1].

Four numbers in a policy decide what it is worth. First, the percentage. It is a share of your pay, not the whole thing. The page does not say which parts of your pay are counted, so ask the insurer in writing. Second, the waiting period. Both kinds of policy have one before they start paying, and how long it runs differs by policy. Third, how long it pays. A long-term policy pays you up to the most years set out in your policy. Fourth, the definition of disability. Your policy will tell you what it considers to be a disability, injury, or illness [1].

The department gives useful examples of how the two kinds differ. A short-term policy might pay if you just had a baby or had surgery and temporarily cannot work. A long-term policy might pay if you were hurt in a car wreck. It might also pay if you have a long-term illness and do not expect to be able to work again [1].

Two things to look at before you buy your own policy. Some jobs have paid sick time that you can use while recovering from an illness, surgery, or accident [1]. And the federal program, Social Security Disability Insurance, is for people who cannot do any type of work. The disability must be expected to last a year or more [1]. How that test compares with a private policy's wording is not in the page quoted here, so we do not say: Don't know yet. On price, we have no official average premium. What the page does name is the shape of the price: which insurance you buy, how much and how long it pays, and how long you wait before it begins paying [1].

Read the quoted TDI disability page, then read the definition of disability in your own policy. The benefit share and the maximum benefit period are on your benefit summary at work.