Choosing the Right Disability Insurance

Choosing the Right Disability InsuranceMost people do not consider the importance of disability insurance until it is too late. Disability insurance can help you meet your financial obligations if you unfortunately cannot work anymore due to an injury. About 12 percent of the workforce will become disabled for five or more years during their career. Making sure you are covered can help ensure that you and your dependents stay financially stable during this hard time.

Disability insurance pays benefits as a partial replacement of income. Just like other insurance policies, disability insurance requires you to pay a monthly premium, and if you get injured, it then pays part of your income. The waiting period, or amount of time it takes for the benefits to start getting paid, depends on the type of policy. Policies that have a shorter waiting period usually come with higher premiums.

There are two types of disability insurance. The first kind is short-term insurance, which provides coverage for six months or less. The second type is long-term insurance, which provides coverage for any length of time over six months. Long-term insurance is beneficial in case of a major problem. Long-term insurance comes in two forms, the first is own-occupation, which provides coverage if you are unable to do your own job due to injury. The benefits will not end until you are able to return to your own occupation. The second type is any-occupation, which covers you if you are not able to do any job. The benefits end as soon as you are able to do any job, even if it is not the career you had before your accident.

Contact Lou Aggetta Insurance in Pleasant Hill, California today to get a quote for disability insurance. As an independent insurance agency, they can find you the most comprehensive plan that will best fit your needs.