How to choose the right policy for you

You train hard, work long shifts, and put yourself in dangerous situations every day to protect your community. Yet, one injury or illness could take you off the job indefinitely.

That’s why disability insurance is a must-have for firefighters. It protects your paycheck, your family, and your future. Yet, too many firefighters either don’t have it or assume workers’ compensation will cover them. Spoiler alert: it won’t always.

So, let’s talk about why you need disability insurance and how to choose the right one to keep your finances safe if the worst happens. Such as:

• Injuries. Whether it’s a fall from a ladder, a back injury from carrying heavy equipment, or smoke inhalation that leads to long-term issues, the risk is real.
• Heart disease and cancer. Firefighters face a higher risk of heart attacks, strokes, and occupational cancers due to constant exposure to smoke and toxins.
• PTSD and mental health struggles are real. The stress of the job can lead to anxiety, depression, and PTSD, making it tough to continue working.

Now, imagine if you were suddenly unable to work. How long could you go without a paycheck? That’s where disability insurance steps in.

Workers’ Comp and Sick Leave 

You might be thinking, “Isn’t workers’ comp enough?” Not always:

• Workers’ comp only covers injuries that happen on the job.
• Payouts are limited. Even if you qualify, workers’ comp only covers a percentage of your salary, which may not be enough to keep up with your mortgage, bills, and family expenses.
• Sick leave doesn’t last forever. If you’re out for months (or longer), you could find yourself without any income.

Disability insurance ensures you get paid no matter how or where you get injured or sick, and that’s a financial lifesaver.

Short-Term vs. Long-Term Disability Insurance

When looking at disability insurance, you’ll come across two main types:

1. Short-Term Disability (STD) Insurance

• Covers injuries or illnesses that temporarily take you off the job
• Usually lasts between 3 and 6 months
• Benefits typically start within 1-2 weeks of your injury

Who needs it: Firefighters who don’t have enough sick leave or emergency savings to cover a few months of missed income.

2. Long-Term Disability (LTD) Insurance

• Covers serious injuries or illnesses that keep you from working for months or years
• Can pay benefits until retirement age, depending on the policy
• Typically kicks in after your short-term coverage ends

Who needs it: Every firefighter. A long-term disability could end your career, and this coverage makes sure you still have an income.

Most financial experts recommend having both short-term and long-term disability insurance for full protection.

How to Choose the Right Disability Insurance

Not all disability policies are created equal. Here’s what to look for when picking the best coverage:

1. Own-Occupation vs Any-Occupation Coverage

• Own-Occupation: Pays benefits if you can’t work as a firefighter, even if you could technically work another job. (Best option for firefighters!)
• Any-Occupation: Only pays if you’re unable to work any job. That means if you can do any kind of work (even if it’s a desk job), you might not qualify for benefits.

Bottom line: Consider “Own-Occupation” coverage. 

2. Benefit Amount: How Much Will It Pay?

Most policies pay 50-70% of your income. Look for coverage that will replace at least 60% of your take-home pay.

3. Waiting Period: How Soon Do You Get Paid?

Short-term disability usually starts in 1-2 weeks, while long-term disability kicks in after 90+ days (so a short-term plan is useful to cover that gap).

Choose a plan with a reasonable waiting period based on your financial situation.

4. Portability: Will It Move With You?

Some policies are tied to your employer, meaning you lose coverage if you leave your department. Consider a private plan that stays with you no matter where you work.

How Much Does Disability Insurance Cost?

The cost depends on factors like:

• Your salary
• Age and health
• The length of coverage
• Whether you pick short-term, long-term, or both

On average, long-term disability insurance costs 1-3% of your annual salary. It’s a small price to pay for protecting your entire career’s income.

Advantages of Disability Insurance 

Disability insurance does more than protect your paycheck. It also helps keep your family financially secure, helps you avoid debt and other financial stress, and gives you time to recover from an injury or illness without rushing back to work.

If you don’t already have coverage, consider looking into it. A few minutes of research now can bring you years of peace of mind.