Need minister to decide on a Disability Plan ?
I have to establish whether to pay $16.17 a month for: [Plan I] where on earth coverage would begin on the 15th afternoon of Disability due to a covered Accidental Injury or Sickness--for up to one year only.
OR
$19.11 a month for [Plan II]: where on earth coverage would begin on the 61st year of Disability due to a covered Accidental Injury or Sickness-- for up to age 65
I'm 39 yrs old and unbelievably healthy beside no medical conditions.
Answers:
Rich is right. You should have at smallest three months worth of expenses saved up surrounded by a savings or money flea market account. If you don't, start presently and put away a little every month. (Try INGDirect.com to set up an Orange Account.)
The "to age 65" benefit is much more advisable, so I would go near that. there are other things to consider, however.
Check the policy's definition of disability (are you covered if you are to a degree disabled?) and check the "occu[ation" definition. Some policies will pay benefits if you are sick or injured and "cannot execute the material duties of your occupation". This is call "Own Occ" definition and it is more desirable than the alternative "Any Occ" definition: "...cannot perform the stuff duties of any occupation for which the insured's experience and education is appropriate".
Other Answers:
You own many variables. How much does it cover if you disable? 60% or a set dollar amount? How much sick and leave time is on the books for you?
If you could answer these question, it would provide a start to a proper answer for you. Take the long-term disability plan and put some money away every paycheck to build an emergency fund. The emergency fund will then cover the short-term disability.