Company Disability Insurance Question

[fritz the cat]

I have a question about disability insurance. Not workmans comp, but the type you pay extra for and have deducted from your paycheck. I've asked this question to the insurace people at the last two jobs I've had and never got a straight answer. If I get hurt or sick (not work related) and cannot work, the insurance policy will kick in and give me a monthly income of 2/3'rds of my pre dedution paycheck. Here's the question, will this monthly insurance income be on top of (or above) what I would get from social security disability, or will this monthly insurance income make up the differance between what social security disability pays and the maximum 2/3'rds of pre deduction pay that the policy covers.

Thanks.

[osprey4]

Ok, you'll get whatever the policy pays. Then after that, if you're permanently disabled, SS will kick in. If you didn't have any long-term disability insurance, you would get the full amount of SS to which you are entitled (based on your last 20 quarters). Since you have LTD, your SS is reduced according to a calculation you can get here:
http://www.ssa.gov/planners/calculators.htm

No SS unless you're permanently disabled according to the SS Adminstration.

[NeoStarO1]

osprey is correct.
Also if are permanately disabled they will look at your fincials statements and see if you have other income. so if you did happen to have long term disability it will effect how much you get from SS during which your policy is effective.

You should be able to get a full policy statement from your insurance provider to find out what type of disablity insurance you have and its exemptions.

[fritz the cat]

OK, according to what I found on that link, only "public disability income" such as workmans comp or fed, state, local gov. disability affect the social security disability payments. Private disability coverage payments do not affect SS disability payments.

http://www.ssa.gov/pubs/10018.html#payments

Thanks for the link! After all these years I finally got an answer.

[Siliconjunkie]

I had to use my STD (Short Term Disability) last year to have surgery and they were real loophole hunters. Be careful of that, if they have to pay then they arent making money.

Siliconjunkie's got that right. They will loophole you to death to keep from paying. I never got anything out of my short term disability claim. zip! But I was out of work 2 months.

[Siliconjunkie]

Ouch! Luckly I was only out a couple of weeks. Only got paid for one since they didnt tell me upfront that the first week isnt covered. But, I really didnt want to go on vacation anyhow. I love work!