Who Pays For Disability Insurance?
.JPG)
63333 POINTSview profilePeggy MaceMost of the U.S.When purchasing an individual disability policy, the insured person usually pays for it. If the policy is a group disability policy, then the employer might make the payments, or the insured employee might make the payments, or they might even make an agreement to split the premium payments between them.Answered on August 22, 2013flag this answer
10968 POINTSview profileTim WilhoitOwner, Your Friend 4 Life, Brentwood TNIt depends on which type of disability insurance you have. If it is a group disability plan then your employer can pay any or all of the premium. If it is an individual disability policy then you would pay the premiums. If you pay the premium and become disabled your benefits are tax free because you paid premiums with after tax dollars. On group disability where your employer pays, he deducts the tax and your benefits would be taxable as income.Answered on September 23, 2014flag this answer
Did you find these answers helpful?
Yes
No
Go!
Add Your Answer To This Question
You must be logged in to add your answer.
