As an actuary, it’s likely that you understand the need for insurance protection, but the value of disability insurance might not be apparent at first glance. On the other hand, you might realize just how important it is to protect your earning potential, but simply haven’t had a chance to compare actuary disability insurance policies and quotes and choose the right option for you.
What Is Disability Insurance?
Disability insurance is a safety net – it’s a financial tool designed to provide you with the protection you need if you find yourself injured or ill, and unable to work. Diseases and health conditions, even accidental injuries, can affect anyone at any time. There’s no defense against things like cancer, heart disease, arthritis or diabetes, and all of these medical conditions can leave you unable to work and earn a living.
Actuary disability insurance can help to offset the financial challenges these diseases can cause. It will provide you with a monthly compensation that is designed to replace a portion of your lost income if you are unable to go to work and earn a salary.
How Actuary Disability Insurance Works
As an actuary, you earn a respectable income that helps ensure your family is able to meet a wide range of financial responsibilities. You have any number of financial obligations – your mortgage payment, car payment, health insurance, credit card payments and the like are just the tips of the proverbial iceberg.
However, what would happen to your financial situation if you weren’t able to work for several weeks? What about several months? This can put a strain on your budget and the possibility of an injury happening to you should not be taken lightly.
You likely understand the risks of not having insurance in place, but it’s possible that you do not know the full extent of those risks. For instance, if you’re near the age of 40, you have a 21% chance of experiencing a disability that lasts three weeks or longer before you turn 65. In fact, one in three Americans will experience a disability that keeps them from working before they retire. Compare actuary disability insurance policies and quotes now, before you need the protection offered.
Your worker’s compensation, health insurance, and auto insurance will only provide limited coverage for your medical costs, but what you will need then is a replacement for your lost income. This can be provided only through actuary disability insurance.
Why Choose Us
Of course, you need to work with the right insurer and we can help you make an informed choice about which insurance company can give you the proper conditions. With our help, you can:
- Review rates from the leading providers of disability insurance to make an informed comparison and a sound decision.
- Compare quotes from different insurance providers to ensure that you’re getting the best possible coverage, at a rate that’s right for you.
- We’ll help you learn more about the actuary disability insurance options available to protect your income to ensure that you get the peace of mind and financial stability that you deserve.
Own Occupation and Any Occupations
Remember how many years you’ve spent to become an actuary? Imagine after all those years of honing your skills you get injured and unable to perform your work tasks. This would be devastating not only emotionally, but also financially.
However, this can be prevented by purchasing own occupation or all occupation disability insurance policy. Own occupation disability insurance policy will provide you with monthly benefits in case your disability prevents you from doing tasks in your work field. On the other hand, any occupation insurance policies will pay out benefits in case you are unable to perform any job, not only your own.
Finding the Right Protection for You
Comparing actuary disability insurance policies and quotes can be quite challenging. It’s time-consuming to do it all on your own, and it may actually be impossible to balance your research and comparisons with the other responsibilities in your life. We help take the difficulty out of the process.
We’ll provide you with quotes from leading US insurers that include not just the costs to you, but also important information about your coverage options and choices possible to tailor the coverage to your specific needs and requirements.
How Premiums Are Calculated
Every insurance company ranks the factors to determine the cost of a policy – age, gender, income, the health of the individual, location, and specialty. Each factor has specific criteria and formulas that determine the overall cost of the occupational disability insurance, so before you settle for a certain insurance policy, check with all providers to make sure you chose the right one.
When you turn to us for help with your actuary disability insurance, we make sure to include you in every step of the process. We work with you to understand all your options in coverage terms and other considerations.
Buy a Disability Insurance Policy While You’re Young
The price of your disability insurance policy depends on the risk of you filing an insurance claim. The higher your risk of a disability is, the more you’ll pay in premiums. One of the primary factors that contribute to being graded as a higher risk person is your age. Statistics show that the older you are the more likely you are to become disabled, and because of this, the premiums you will pay get higher as time goes on.
You can buy disability insurance today and save money in the long-term. Each year you age is more money you’ll be paying out in premiums.
Look for Unisex Rates
In general, women pay higher disability insurance rates than men. A recent study has shown that women are more likely than men to develop a disability that prevents them from being able to work full time. Rheumatism and arthritis are the most common disabilities women encounter, followed by cancer, heart disease, mental health, and diabetes.
Women have also reported that experiencing a disability would be “somewhat devastating” to their family’s finances. Many of the participants in the study said they worry that their cash reserves would last less than a month if they couldn’t work.
Ready to get the protection you need? Call us today at 1-877-221-6198 or use the form on this page to get in touch.