When a physical injury keeps you from working, disability insurance can help get the bills paid.
There are many kinds of disability policies and options, however, the basics are simple. The following variables enter into determinining the proper policy for you:
Monthly BenefitMost disability policies have a fixed monthly benefit, and many allow the purchase of riders that offer higher payment schedules.
Definition of Disability Some policies define disability as the inability to perform the duties of your own specific occupation, while others define disability as the inability to perform the duties of any job for which you qualify based on your education and/or training.
Waiting Period The amount of time which you must be disabled before benefits become payable. The options range from 30 days to 2 years.
Benefit Period The amount of time that benefits will be payable, ranging from 6 months, to Age 65 or even life, depending on the offerings of the insurance company.
If you have any questions about Disability Insurance, please contact us.
