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Disability Insurance

Disability Insurance |  short-term disability insurance | short term disability insurance | long term disability insurance | state disability insurance | disability insurance rates | Dallas TX

According to Wikipedia: Disability Insurance, often called DI or disability income insurance, is a form of insurance that insures the beneficiary’s earned income against the risk that a disability creates a barrier for a worker to complete the core functions of their work. For example, the worker may suffer from an inability to maintain composure in the case of psychological disorders or an injury, illness or condition that causes physical impairment or incapacity to work. It encompasses paid sick leave, short term disability benefits, and long term disability benefits. Statistics show that in the US a disabling accident occurs on average once every second. In fact, Nearly 15% of Americans are currently living with a Disability, and 1 out of every 4 persons in the US workforce will suffer a disabling injury before retirement.

Disability insurance is considered as a good means to replace one’s income when a person is not able to work due to some kind of illness. Unlike the past, loads of people are getting seriously interested in disability insurance policy. After all, it’s one of the most viable ways to secure one’s future when one runs out of luck. Today, two forms of disability insurance policies exist in the market. They are called as short term disability policy and long term disability policy.

disability

There are two primary forms of Disability insurance that a person can obtain: Short Term and Long Term. Although a Short Term disability can certainly create financial distress, it is fairly simple to see that protecting your income against a Long Term Disability is much more important. The potential loss of income over a 2 year, 10 year or even longer period of time is much greater than that of a 3 month period. For this reason, I consider it more important to protect your income against a Long Term Disability.

disability

Long term disability insurance quote is mainly intended to protect the impact of a possible disability through a much longer period of time. There are multiple factors that will affect and change the terms of this insurance. The policy duration is not the only thing that you need to care about. Thus, it becomes utmost important for you to read the terms and conditions of the policy carefully. There might be some conditions on which you may not agree, thus, you have to go through the contract wisely.

The concept of Long Term Disability insurance is fairly simple, but the provisions, definitions and policy riders available with every contract are what make it more difficult to understand. Due to the importance and nature of this product, it is critical to work with someone who is knowledgeable of the Disability insurance market place. There are many different companies providing similar but different products. Working with a Disability specialist and broker should help you make sure you are getting unbiased and honest help.

Choice Plus Benefits is here to help you choose the right Disability Insurance Policy. Our dedicated and knowledgeable team of Insurance Agents can help you choose from the best policies and provide you with a Disability Insurance Quote. Please call us for more details.

How Disability Insurance Protects You

Your lifestyle: Something to think about.

When you’re healthy and working, it’s hard to imagine being disabled by illness or injury. But it can happen. In fact:

  • One in 3 working Americans will become disabled for 90 days or more before age 65.
  • The average disability absence is 2 1/2 years.
  • More than 80% of working Americans don’t have disability income insurance or aren’t covered adequately.

What would happen if your paychecks suddenly stopped because you were too sick or injured to work? What if you couldn’t work for months – or years?

You’d still have to pay all your monthly bills, including food, utilities, house and car payments. Add in things like tuition and retirement funding, and it’s easy to see how savings could quickly disappear.

Unfortunately, you can’t rely on other income sources like Social Security to protect you. In many cases, they can take a year or more to collect and are not enough to cover basic expenses.  Think you’re already protected?

Plan ahead to help protect your lifestyle. Then relax….

  • Length of coverage six months to age 65
  • Moderate costs
  • Type – Indemnity
  • Value – HIGH

* Recommendation:
Buy enough coverage to pay your fixed expenses, house payment, food, car payment, utility bills, etc…

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