Disability Insurance

If an injury or illness prevents you from working, disability insurance will provide you with an income. This is particularly necessary in the event of a disability since typically, income decreases, while expenses such as increased medical and other care related costs- increase. Although there are other possible sources of income for the disabled, the amounts paid are often limited and many restrictions apply. According to the Social security Handbook, 70% of all disability applicants are rejected.

Should you buy disability insurance?

If you purchase disability insurance and DO NOT become disabled, how will your lifestyle be affected?
If you do not purchase disability insurance and DO become disabled, how will your lifestyle become affected?

In light of this, it is no coincidence that Disability Income Protection plans are among the most widely held insurance policies today.

Disability income insurance benefits are usually 60% of your income at the time of disability, although cost-of-living adjustments may be available on certain policies. When shopping for disability income insurance, read the fine print! Some policies only pay benefits if someone is unable to perform the duties of their occupation. Others pay only if the person cannot work at any job. Make sure you also look for policies that cover both accidents and illnesses.

A competent insurance expert can help you determine which disability income policy and what features are right for you. Additionally, they can help you understand the differences in the "fine print" and help you secure a policy that includes the key benefits you need. Not all policies are created equal.

Click here for a 1 Financial Marketplace Associate insurance expert to assist you with your insurance needs.

Or follow our links to learn more about:

Group Long Term Disability Insurance

Group Short Term Disability Insurance

Supplemental/Voluntary Disability Insurance

Self-Insured Short Term Disability Insurance

Executive Individual Disability Insurance

Disability Overhead Expense Protection

Disability Buy Out Insurance

How to Decide