Disability Insurance Quotes for Individuals and Small Businesses

November 28, 2008 admin


Individual & Self Employed Disability Income Insurance Plan Quotes from Ohio Nationa, Guardian, Assurity, Illinois Mutual, Mutual of Omaha, The Standard
Individual Disability Income Insurance Policy Quote
Individual & Self Employed Disability Income Insurance Quotes for Virginia, Maryland and Washington DC - The Standard, Assurity, Ohio National, Guardian
Group Disability Quotes, Guardian,The Standard, Lloyds of London, Aetna, Blue Cross, Assurity, The Hartford, Aflac, Mass Mutual, Met Life, Berkshire, Union Central
How can I insure against loss of income?
If you were disabled and unable to work as a result of an accident or illness, what would you and your family do for income?Disability income insurance, which complements health insurance, can replace lost income. Forty-three percent of all people age 40 will have a long-term (lasting 90 days or more) disability event by age 65.
There are three basic ways to replace income:

  1. Employer-paid disability insurance This is required in most states. Most employers provide some short-term sick leave. Many larger employers provide long-term disability coverage as well, typically with benefits of up to 60 percent of salary lasting from five years to age 65, and in some cases extended for life.
  2. Social Security disability benefits This can be paid to workers whose disability is expected to last at least 12 months and is so severe that no gainful employment can be performed.
  3. Individual disability income insurance policies Other limited replacement income is available for workers under some circumstances from workers compensation (if the injury or illness is job-related), auto insurance (if disability results from an auto accident) and the Department of Veterans Affairs.For most workers, even those with some employer-paid coverage, an individual disability income policy is the best way to ensure adequate income in the event of disability. When you buy a private disability income policy, you can expect to replace from 50% to 70% of income. Insurers won’t replace all your income because they want you to have an incentive to return to work. However, when you pay the premiums yourself, disability benefits are not taxed. (Benefits from employer-paid policies are subject to income tax.)
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Disability Income Insurance – Protection In Troubling Times

By: Ivon T. Hughes

Nobody likes to think about being disabled. Unfortunately when accidents strike they will quickly change your financial outlook. What disability income insurance options do you have if you find yourself disabled, temporarily or otherwise? In other words do you have a plan of action if you don’t have, or plan to take, disability income insurance?

There Are 2 Types Of Disability Income Insurance Contracts:

* Non-cancellable: premiums are guaranteed level for the life of the contract unless the benefits are increased.

* Guaranteed renewable: Company reserves the right to increase the disability income insurance premiums for everybody, should the number of claims in a particular class begin to rise.

Your Disability Income Insurance Concerns:

* Occupation: The dangers of your job are a factor companies weigh to see the chances of you getting injured.

* Compensation: How much are you looking for to cover your expenses, and is it less than 70% of your present gross salary?

* Medical History: Your current health and what medical history your family has, will also affect how the life disability income insurance carriers will see you.

Other factors that go into assessing your situation are your gender, age and province or state of residence.

You also have the option of riders. Residual and partial riders are available to you if your situation changes and you are returning to work in a different job and experience a loss of income. Or if you return to work as a part time employee, but in the same job.

Plan Disability Income Insurance For Potential Accidents Or Sickness

Although no one likes to talk about getting hurt or such, the benefits of a disability insurance policy greatly help during times of crisis. Investing in a policy helps strengthen your overall financial plan or at least puts a floor underneath it. Get together soon with an insurance broker and discuss how your personal situation can benefit from disability income insurance.

About the Author

Ivon T. Hughes of The Hughes Trustco Group is the author of
the Life Insurance Handbook: How To Get The Best & Cheapest Life Insurance
available FREE to all new subscribers at: http://www.hughestrustco.com

(ArticlesBase SC #90827)

Article Source: http://www.articlesbase.com/ – Disability Income Insurance – Protection In Troubling Times
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