What is Disability Insurance?

Disability insurance can provide you with income if you become too sick to work, either temporarily or permanent. It helps protect your most valuable asset; your ability to earn a living. When you can’t work, it can help you and your family pay your mortgage, auto loans, school loans, and credit cards.

Disability insurance, sometimes called income protection insurance, is a designed to pay out a percentage of the your current wages if you become unable to work. The two main reasons for claiming benefits are:

  • accidents (whether on the job or off)
  • debilitating illnesses

It’s best to do some comparison shopping before deciding on the best disability insurance policy for your needs. The least expensive policies may also be the most restrictive in terms of eligibility and monthly payouts.

Individual insurance companies set their own terms, so look for specific things like a significant income percentage payout (45% to 60% is typical).

Disability income is paid weekly or monthly when you claim that you can’t work because of sickness or injury. The amount of payment provided from the insurance company may be stated as a percentage of income or as a set dollar amount.

Some plans are available from your employer through group health plans and others are available from private insurers. Injuries or sickness as a result of your employment may be covered by worker’s compensation.

Call Jeff Pennington today at 1-877-221-6198 and let him help you make the best choice for your disability insurance policy. It helps to have an expert on your side to get the best rates and policy available from the right insurance provider.


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