Hi, my name is Mike Lanway, I'm a financial planner. I'm an expert in federal employee benefits, and I'm here to help you decide what you need to do to make best use of those benefits to your advantage.
For attorneys and for other professionals in the federal market as FERS employees, I know you have associations that will offer you some disability coverage, and I do not want to discourage you from exploring that.
Please, explore that and see what it is, and understand it. But, understand it from the perspective that you have benefits as a FERS employee that cover you for long-term disability, and that is the FERS disability retirement. As long as you have 18 months of completed FERS service, actual FERS service.
So, if you don't have it yet, but you definitely need to have association coverage, or maybe private coverage, but once you get that 18 months in, you need to reassess it and make sure that you're not spending so much money over there on a benefit that won't actually paid because it gets offset by other benefits you receive.
This FERS disability retirement is so powerful, it can offset a lot of the insurance. Just make sure that you understand how it works together, that you get as much coverage from all your different sources as you can, but understand that the basis of your coverage. The foundation of your disability coverage is the FERS disability retirement.
We hope you enjoyed our video series on the different components of your retirement and your benefits. If you want to see more, learn more at your own pace, use our annual benefit statement. You'll see the link at the bottom and within the description. Go there, take a look at it, we think you'll be happy with what you see and and that it's going to help you.
All About FERS- Options for Insurance