If you become disabled due to injury or illness and cannot work, you will lose the ability to make a living, temporarily or permanently. This is why you need to have Disability Insurance in order to protect your assets. By purchasing Disability Insurance, you will protect the lost income if you cannot work because of a disability.
Anything can happen in life, and disability claims do not come only from worst-case scenario injuries. Making sure that you are protected in the event you become disabled is important for you and your family. Disability Insurance coverage may be offered by your employer, or you can purchase it individually. In the event it is not available through work or if you are self-employed, you can purchase the policy on your own.
Different factors will affect the cost of your Disability Insurance, including your age and health, gender, smoking habits, occupation, definition of disability, waiting period, income, length of benefits, and extras you might add. On average though, according to statistics, the annual price for disability policy is between 1% and 3% of an individual’s yearly income.
Purchasing Disability Insurance is adding the extra layer of protection in the event something goes wrong in life. Our licensed representatives at Team Insurance will be happy to assist you with choosing the Disability Insurance policy that is right for your specific needs.