Information Requirements for Disability InsuranceI have recently accepted a position at a new employer, and the employer offers disability insurance as one of their benefits. However, the agent for the insurance provider says I must provide copies of my tax returns for the past five years including all schedules included with those returns. I have had disability insurance before when working for other employers but have never had to provide any retrospective income information, never mind tax returns. In this day and age of identify theft, I really do not want to provide these returns since they are joint returns listing all kinds of information about my family and dependents. If it is verification of past income, I might be willing to provide a copy of my most recent social security summary since this shows information pertinent only to me individually.
Would you give me an idea of what kind of retrospective income information is generally collected for disability insurance and whether I must indeed provide tax return information?
Answer: In my personal experience, I have never been required to provide retrospective information from other employers in order to qualify for disability insurance. However, it is true that disability insurance coverage is based on what you make. However, this sounds excessive. I would suggest to them exactly what you have in your question -- that you provide only your social security summary. You don't tell me which state you are from, so I can't be sure of any legal requirements or legislation that would otherwise affect you. So, I'd recommend that you consider a half-hour of free legal advice.