This insurance is mandatory program that is intended to provide payment of the elderly or disabled, whose income is insufficient to meet their basic needs.
About social security disability insurance:
The social security disability insurance policy program (SSDI) allows you to get disability payments when you cannot work because of an illness or injury that will prevent you from continuing to work.
-You do not have to the work.
-You may be eligible for Social Security retirement benefits.
-If you become disabled, you may be eligible for Medicare.
Pros of social security disability insurance:
In social security disability insurance your payout will be as low as 25% of your earnings for some. You can stay on this insurance for the rest of your life & choose to stop receiving benefits.
-High premiums that most people pay through COBRA when their employer does not provide it.
-High administrative costs and the cost to maintain benefits.
Pros of social security disability insurance:
Your social security disability insurance policy cover benefits may be higher than you think. According to The Washington Post, disability payments made by the Social Security Administration (SSA).
-Your benefits will be calculated based on social security earnings.
-You will need to stay current on your check because your benefits could be reduced.
Cons of social security disability insurance:
A social security disability insurance policy can ensure that you’re financially protected in event of an emergency, but also allows you to work when you want. You’ll need a retiree health benefit.