What To Look For In Disability Insurance Quotes

2007-03-08 10:33:40

( Health )



Disability insurance, like most types of insurance being offered out there is designed to protect you from financial windfalls. Disability insurance basically covers your income in the event that you become injured and are unable to work to earn a living. Disability insurance will not cover all of your income, just a part of it.

There are several states that require disability insurance if you are working. You can get disability insurance from both private and federal sources. Private disability insurance is the policy you can purchase from an insurance company while federal insurance refers to your social services benefits.

If you want to purchase disability insurance, you should first request disability insurance quotes from several insurance carriers to give you an idea on the rates, premiums and coverage being offered.

You should first determine the type of insurance you want when you request for disability insurance quotes. It can be individual disability where the insurance company protects you from personal disability. Disability insurance can also cover the loss of an important employee in your company. If that employee suddenly becomes injured or disabled, the insurance carrier will protect you from the impact of losing the important employee. Disability insurance may also allow you to buy your partner’s share of the business if your partner suddenly becomes disabled. Disability insurance can also pay for your business’ overhead should you become disabled.

When going through disability insurance quotes, you may want to pay attention to certain restrictions and exclusions to your policy. Some insurance carriers require you to pay extra premiums for mental health disabilities. Some policies have a limit of the amount they are going to pay if you become disabled. Before getting a disability policy, it is best to consult with an insurance agent so that they can answer all the questions you may have.


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