Disability Insurance Articles
Where To Find Good And Reliable Disability Insurance Quotes Online
2010-10-19
Most people never give a thought to disability insurance until a problem forces the issue. However, the sad fact is that 30 percent of all Americans will suffer from some form of disability that will keep them out of the work place for 90 days or more. While 90 days may not seem like a long time, it could have a devastating effect. Consider for a moment-could you afford having no income for a full 90 days? It is a good idea to at least get a few disability insurance quotes in order to protect yourself, just in case something happens.
A temporary disability could be anything from a broken bone, a difficult pregnancy or a car accident. Even something that may result in monies being paid to you later may not give you money to live on while you are hurt. Disability insurance can.
For those who say that they do not need disability insurance because they have a disability insurance policy through work, you might want to rethink that. The majority of company-sponsored disability insurance packages only pay 60 percent of your salary, with a cap of $5000 per month. For some, that is simply not enough. The amount that is paid out is also taxable, which means from the 60 percent of your salary that you will likely have to live on, you will have even less, depending on your tax bracket. This may be better than those who do not have any coverage at all, but it will still not be enough.
When looking for disability insurance quotes, remember to get a policy that is own-occupation disability. Own-occupation disability means that even if you decide to go back to work and can no longer do your original job, you will still receive your disability payments. Most people who are permanently disabled still prefer to work, if possible, even though the new job may not pay as much as the old one did. With an own-occupation policy, you can work a new job without the fear of losing the disability benefits you need.
The best place to look for disability insurance is, of course, on the Internet. There are several places that offer disability insurance quotes and comparisons to choose from. Simply do a web search and then fill out a questionnaire to get the best possible disability insurance rates available.
Another place to look for disability insurance quotes is an insurance brokerage. Disability insurance is not a common form of insurance, and you may actually have to look for it. An insurance brokerage may be the easiest place to find the terms and rates you want and need.