Going back to work and disability benefits

Описание: Going back to work after or while still receiving disability income benefits can be tricky. In this video I discuss how your benefits are affected if you can and choose to return to work with a disability.

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The DI Queen, as they call her, feels the main reason people get into financial problems when they're adults is the lack and neglect of financial education. Which is why she feels that people need to understand that there's circumstances you can't avoid. Therefore, you must plan for them.
Everyone earning an income should protect it.
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Most people who become disabled want to go back to work. Disability is like forced retirement; you don’t want it to happen. So, keep in mind that even if you’re considered disabled able to do some work, you may face some challenges if you want to continue to receive benefits.
Now I’m primarily going to discuss how benefits are affected when returning to work if you’re claiming through your private disability insurance that you purchased on your own or through work. This video is NOT about Disability benefits through Social Security; if you want more information of Social security disability visit the social security’s administration website at www.ssa.gov.

So, you have your individual disability insurance company and you’re wondering if you can go back to work. The goal is that you fully recover from your disability. And that may be the case; hopefully so.
But unfortunately, there’s no guarantee that you will. And you need to know your options now while you’re healthy and while you have these options, before a disability strike.
One of the advantages of having your own disability policy (instead of relying on Social Security Disability benefits) is the more expansive definitions of disability. While SSDI has the most limited definition, many plans will pay benefits even if you can perform other duties or gainful work besides your current occupation.
The 3 most common definitions are:
Own Occupation, which allows the individual to receive benefits if they can’t perform the duties of their own occupation.
For example: Let’s say you’re an electrical engineer and you’re unable to perform the particular duties of electrical engineering, but you could write, publish and capitalize on a book or public speaking engagements. Under this definition you would be considered disabled and would be eligible to receive both the benefit from your policy and income from the book you authored.
Then there’s Own occupation with time limits, and under this definition the above prior definition applies but only for a certain period (usually 12 months, 2 or 5 years). In other words, you would be able to write that book and do public speaking engagements, and receive income from it, but for the specified timeframe only. After that period, you are considered unable to work at all.
And lastly, you have the “Any occupation” definition, which is very similar to the definition that Social Security uses to determine eligibility and it’s certainly the most limiting. People who have this definition are defined as individuals unable to perform any job, in order to be eligible for benefits.
Some policies offer additional features that will allow you to receive partial disability benefits. It’s usually a reduced amount compared to your total disability benefit, but it’s just as important to understand this. Let’s say you can continue to work, but you can only do it for half a day, or a few days in the week, or certain duties you can do, but not others…You may be eligible to continue to work and receive a partial disability benefit.
There you have it. These are the 3 most common definitions that will determine how and if you can go back to work and still receive Disability Income Insurance benefits.
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