UPNIN INSURANCE
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What is Disability Insurance?

Disability insurance pays some or all of a worker's salary if that worker becomes disabled and is unable to work at his or her job. According to the Council for Disability Awareness, at least one out of every four workers will become disabled at some point during their working career. This disability can come from accidents or injuries on the job, as well as from other debilitating illnesses such as cancer or a heart attack. Disability insurance can reimburse disabled workers for some of the income they lose while recovering from illnesses and injuries.

Why Get Disability Insurance?
Unlike Social Security disability, which covers most workers after they reach a certain age and is capped at a maximum monthly payment regardless of the worker's salary, private disability insurance can cover about 70 percent of a worker's salary at any age when a disability arises. Some workers may be covered by disability insurance through their employers, but many workers have limited coverage or no coverage at all. Individuals with little or no coverage can buy private disability insurance in order to protect their earning power and provide for their families should they be prevented from working by an illness or injury.

Types of Disability Insurance
Private disability insurance policies usually come in the form of either short-term disability insurance or long-term disability insurance packages. Short-term disability insurance usually covers disabling illnesses for up to six months, while long-term disability insurance can cover much of a worker's salary for an entire lifetime, if necessary. Many insurance companies also offer additional protections and options, such as cost-of-living adjustments, guaranteed renewal, and refunding of some premium payments if the worker does not become disabled within a specified time.

How Much Does Disability Insurance Cost?
The cost of disability insurance can vary widely depending on a variety of factors such as:
  1. the worker's occupation;
  2. the worker's health;
  3. the worker's lifestyle habits, such as tobacco or alcohol use;
  4. the amount of monthly benefits the worker intends to receive; and
  5. the disability insurance policy's options.
Compared with other types of insurance, such as life insurance or auto insurance, disability insurance can be expensive, with some estimates pricing premiums at several thousand dollars per year. People with a higher risk of injury or illness, such as those with dangerous jobs or preexisting health conditions, likely will pay higher premiums. However, depending on an individual's circumstances, the cost of disability insurance can outweigh the risk of losing one's home or not being able to provide for one's family in the event of a long-term disability.

How Do I Get Disability Insurance?
Most people who buy private disability insurance do so through an insurance broker, just as one would if buying life insurance or homeowner's insurance. In order to receive an accurate quote, you will have to provide your insurance broker with information about your occupation, your income, your age, any existing health conditions you currently have, and any dependents you support with your wages. Based on this information, the broker will assess the likelihood that you might become disabled and determine a monthly or annual premium you would pay to receive benefit payments you desire.

Disability Insurance: Legal Issues
Although disability insurance can provide policy holders with many benefits and protections, legal issues can arise (as with any contract). When policy holders submit a claim after becoming disabled, some are denied because their insurance policies do not cover certain injuries or because the insurance company disagrees with the doctor's findings that the policy holder is actually disabled. Some disability insurance policies, especially those provided by employers, are heavily regulated by complicated rules and procedures, and policy holders who do not follow these to the letter may have their claims denied. Policy holders whose claims are denied often face complex appeal processes, causing them to pay out of pocket while their claims are considered and reconsidered by the insurance company or judge.

Get Disability Quote Now

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  • Home
  • About
    • Core Values
    • Insurance Carriers
    • Careers
    • Products >
      • Motor Vehicles >
        • Auto Insurance
        • ATV Insurance
        • Roadside Assistance
        • RV Insurance
      • Business >
        • Business Insurance
        • Business Owners Package (BOP)
        • Internet Security Insurance
        • Insurance Bonds
        • Key Person Policy
        • Group Benefits
        • Workers Compensation
      • Health >
        • Health Insurance
        • Critical Illness Insurance
        • Dental Insurance
        • Long Term Care Insurance
        • Medicare Supplement Coverage
        • Vision Insurance
      • Life/ Financial >
        • Life Insurance
        • Annuities
        • Disability Insurance
        • Final Expense Insurance
        • Financial Planning
      • Property >
        • Home Insurance
        • Condo Insurance
        • Earthquake Insurance
        • Flood Insurance
        • Landlords Insurance
        • Renters Insurance
      • Other >
        • Boat Insurance
        • Umbrella Insurance
        • Wedding Insurance
  • Quotes
    • Auto Quotes >
      • Auto Quote
      • Classic Car Insurance Quote
      • Motorcycle Insurance Quote
      • RV Insurance Quote
    • Business Quote >
      • Business Insurance Quote
      • Business Owners Package (BOP) Insurance Quote
      • Apartment Statement of Value
      • Builders Risk Application
      • Child Care Application
      • Group Benefits Insurance Quote
      • Insurance Bond Quote
      • Roofers Supplemental
      • Oil & Gas
      • Workers Compensation Quote
    • Health >
      • Health Quote
      • Critical Illness Insurance Quote
      • Dental Insurance Quote
      • Long Term Care Insurance Quote
      • Medicare Supplement Coverage Quote
      • Vision Insurance Quote
    • Life & Financial Quote >
      • Life Insurance Quote
      • Annuity Quotes
      • Disability Insurance Quote
      • Final Expense Insurance Quote
    • Property Quotes >
      • Homeowner Insurance Quote
      • Condo Insurance Quote
      • Earthquake Insurance Quote
      • Flood Insurance Quote
      • Landlord Insurance Quote
      • Renters Insurance Quote
    • Other Quotes >
      • ATV Insurance Quote
      • Boat Insurance Quote
      • Event Insurance Quote
      • Non Profit
      • Roadside Assistance Quote
      • Umbrella Insurance Quote
      • Travel Insurance Quote
      • Wedding Insurance Quote
  • Service
    • Report A Claim
    • Make A Payment
    • Update Contact Info
    • Change My Policy
    • Proof of Insurance
    • Online Documents
    • Free Consulation
    • Common Insurance Terms
  • Agents
    • Custom Websites
    • Client Support
    • FAQs
    • Agent Login
  • Contact Us