Individual Disability Insurance

You May Need Disability Insurance

Individual disability insurance. You spend many years of study and hard work to achieve the type of income that you have always dreamed about. You now can afford a comfortable lifestyle for yourself and your family.

Have you ever considered what would happen to all that if you were sick or became disabled. Sounds unlikely?

All that has to occur is for you to become disabled and all these achievements can go through the door. Let us look at some statistics before we examine individual disability insurance.

Be certain your disability insurance company will pay when you need them. The Definition Of Disability can be Quite Misleading. Compare Disability Insurance Quotes and Save!

Individual Disability Insurance Need

  • One third of all people will be disabled for at least three months during their lifetime.
  • The average length of time that a disability lasts is a little over three years.

You may think that you can live on savings or investments if this were to happen to you. First of all I am sure that you did not save or invest your money to have it all disappear in the event of disability.

Just multiply what it costs you and your family to live by 12...being a one year period. How long would your nest egg last? You can save yourself these headaches by owning an individual disability insurance policy.

  • You will have sufficient income to take care of your monthly bills which includes food, clothing, your utility bills, maintenance of your automobile, cost of gasoline etc.
  • You will not lose all your savings or the money you invested. You won't lose it because you had to live on it.
  • You won't have to depend on relatives or friends for your keep.
  • You will maintain your dignity throughout your illness.

You can purchase a policy that pays between 45% and 60% of your income for a period of 2 years, 5 years, up to age 65 or for a lifetime.

Your disability insurance policy will begin payments in 30 days, 60 days, 90 days, 180 days or at the beginning of the second year of your disability. The longer the elimination period the lower the premium.

When purchasing a policy be careful about the insurance company's definition of disability. Your disability insurance policy must indicate that if you are unable to perform your duties in your own occupation you are disabled.

Be certain your disability insurance company will pay when you need them. The Definition Of Disability can be Quite Misleading. Compare Disability Insurance Quotes and Save!

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