Group or Individual Disability

One of the many, many considerations that people have to take on when they are thinking of getting insurance coverage would have to involve the subject of choosing either group or individual disability insurance. Of course, in both cases, what you are preparing for is the possibility of suffering from injury that may prevent you from being able to do your job – after all, the principle here is that when you are injured, you’re likely not be able to perform your duties, and as such you won’t be able to work and will not be able to earn your income. With disability insurance, you will still get paid while you are unable to work. That being said, however, there is still the issue of choosing either group or individual disability.

For some people, the question of group or individual disability insurance is a fairly easy one – group disability insurance is offered by many employers, the government (especially if you’re a veteran of war) and the like. More often than not, they are offered as part of a package; this is why for many, this is a no-brainer. We have it anyway, so why the need to get individual disability insurance? Of course, there are the advocates of individual disability insurance who insist that group disability have less coverage; furthermore, employers nowadays are less likely to pay for one hundred percent of the income. Still, the trend is that in the argument between group and disability insurance, employees go for group insurance while self-employed individuals go for individual insurance.