Disability insurance is a type of insurance that provides financial assistance to people who are unable to work due to an illness or injury. It can help replace lost income, pay for medical expenses, and cover other living expenses.

There are two main types of disability insurance: short-term disability insurance and long-term disability insurance. Short-term disability insurance typically covers you for a period of 3 to 6 months, while long-term disability insurance can cover you for a period of 2 to 10 years or more.

To qualify for disability insurance, you must be unable to work in your own occupation. This means that you cannot perform the duties of your job, even with some modifications. You must also be under the care of a doctor and be unable to work for a certain period of time, which is known as the elimination period.

The amount of money you receive from disability insurance depends on the type of policy you have and your level of coverage. Short-term disability insurance typically pays a percentage of your salary, while long-term disability insurance can pay a percentage of your salary or a fixed monthly amount.

There are a few things to keep in mind when considering disability insurance. First, the cost of disability insurance can be expensive. Second, you will need to be approved for coverage by the insurance company. Third, disability insurance does not cover all illnesses and injuries.

So, who should buy disability insurance? If you are a wage earner who relies on your income to pay your bills, then you should consider buying disability insurance. Disability insurance can provide you with peace of mind knowing that you will have financial assistance if you become unable to work.

Here are some additional tips for buying disability insurance:

Compare quotes from different insurance companies.
Make sure you understand the terms of the policy.
Consider buying an inflation rider to protect your coverage from inflation.
Buy disability insurance as soon as you can, while you are still healthy.

Disability insurance can be a valuable financial tool to protect your income in case of an illness or injury. If you are considering buying disability insurance, be sure to do your research and compare quotes from different insurance companies.

Here are some of the benefits of disability insurance:

Replaces lost income
Covers medical expenses
Covers other living expenses
Provides peace of mind

Here are some of the people who should consider buying disability insurance:

Wage earners who rely on their income to pay their bills
Self-employed people
People with a high-paying job
People with a young family

If you are unsure if disability insurance is right for you, talk to an insurance agent. They can help you assess your needs and find the right coverage for you.

Four Simple Steps to Buying Life Insurance.

It can seem difficult at first, but it can actually be an easy process if you follow these simple steps.

Step 1: Find yourself a trusted life insurance broker. A broker can find you the best policy and best pricing on the market. Since the broker has access to a multitude of companies, instead of just one, it gives you the best chance at finding the best product for your needs.

Step 2: A trusted life insurance agent will do a fact finder to narrow down what your exact needs are. They will explain to you how the different types of life insurance products work, so you are better educated to make the proper decision. After verifying your needs, the agent will make a professional recommendation. They will help you determine which product makes most sense to you. With life insurance, there are two basic types of insurance policies to choose from, and your agent should be able to explain how they work for you in detail. Choosing the proper insurance product is a team effort between you and your agent.

Step 3: Be sure your agent chooses for you a reputable company. The insurance company you choose should have been in business for many years, be financially stable and have strong ratings.

Step 4: Choose how you want to buy. There are many safe ways to buy a life insurance policy especially during this time of Covid-19. Your agent should give you the option to either meet in person (if possible), do the appointment by phone, or do a video meeting online i.e. Zoom. More and more of these meetings are moving to video platforms for the safety and convenience of all parties.

Buying life insurance can be a simple choice with lasting value. Don’t leave your family or your business unprotected, make the decision that can help keep them covered today.