The Need For High Income Disability Insurance
Have you ever stopped to think about how much your lifestyle would change if you were unable to work? Facing the fact that a disability could happen to anyone at any time is difficult but necessary. The financial loss caused by a disability can be devastating. Even high-net-worth individuals can struggle to make ends meet if their primary source of income is eliminated, even if only temporarily.
Executives, professionals, self-employed individuals, doctors, and dentists all have more to lose then the median income maker. The average Social Security Disability income payment is $1,146 monthly. For most high-income earners, this amount would not come close to meeting their monthly financial obligations.
Who Needs Disability Insurance
Disability insurance is an important asset to have in your life, regardless of your profession or income size. However, having disability insurance is that much more important if:
- You’re the breadwinner of the family
- You have a debt to pay off
- Your employer doesn’t provide any or provides only limited coverage
- You’re self-employed
- Getting disability insurance can help you offset some of the risks your job carries. It will protect your financial stability and give you a source of income if you’re unable to produce it yourself.
- High-income disability insurance works similarly to other types of disability insurance. It protects you and your family’s finances if your primary source of income is disrupted due to a disability or injury.
You’re Not Protected Through Other Insurances
Many high-net-worth individuals assume that workers’ compensation insurance would cover their financial needs, but what if your disability does not stem from an accident in the workplace? Others feel that their health insurance would cover their needs, but this is also not entirely true. Yes, your health insurance will pay for medical treatments, medicines, and the like, but what about replacing the income lost during an extended leave from your job? Health insurance does nothing to help pay utilities, mortgage payments, auto loan payments, or meet your other financial obligations.
This is done only through disability insurance, so you should consider getting it for yourself and protect your finances.
The Need For High Income Disability Insurance
Just as your income is higher than the national average, so are your financial obligations. This means that bills can mount much more quickly once your primary source of income is eliminated, and if a disability were to prevent you from working for six months, or a year, what then? Even for those with significant financial means, that can be a serious challenge. Your family could face financial destitution if there is no way to replace at least a portion of your income. High-income disability insurance is designed specifically for the needs of high-net-worth individuals.
With high-income disability insurance, you can enjoy peace of mind, knowing that your family’s quality of life and financial stability will not be jeopardized if you experience a disability that eliminates some or even all of your income.
We Can Help You Find The Best Coverage
We want to ensure you have the financial stability you need, which is why we work with insurers across the nation to protect your interests. When you work with us:
- You’ll be able to review rates from the leading providers of disability insurance to make an informed comparison and a sound decision.
- We quote all the major disability insurance carriers from the US 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 disability options available to protect your income and ensure you get the peace of mind and financial stability that you deserve.
Look for Unisex Rates
Statistics show that women are more prone to developing a disability that will prevent them from working full time. The most common disabilities women experience rheumatism and arthritis, but the more serious ones are cancer, heart disease, mental health, and diabetes. As a result, the premiums calculated for women’s disability insurance policies are higher than those for men.
Women have also stated that experiencing a disability would be “somewhat devastating” to their family budget. Many also said they worry that their cash reserves would last less than a month if they couldn’t work, which shows the importance of disability insurance and how it can help with a family’s finances.
Why Comparing Insurance Rates Is Important
Why might you need to compare high-income disability insurance quotes? There are several reasons for this. One of those is to ensure that you’re able to find the least costly insurance policy. The other is to make sure that you find the policy that fits your needs best. Insurers, disability definitions, benefit terms, and many other factors vary significantly, and you’ll need to make an informed comparison to ensure that you have the protection you require.
It’s not as simple as choosing the first policy you encounter. It would be best if you made an accurate comparison and an informed decision between insurance companies because the insurance coverage, disability rates, and even covered items can vary dramatically.
Why You Need Us
When you compare quotes from disability insurance companies, consider things like the stated minimum and maximum benefit percentage, the optional coverage items, and even the company’s reputation for customer service.
We can help you with that. We specialize in helping high-income individuals such as yourself compare disability rates and covered items, disability durations, and other important criteria. Our goal is to ensure that you’re able to make an informed decision and find the peace of mind you need.
Our agency represents over 500 carriers. We can search the market for the least expensive options that provide stable contractual features for our clients. On average, most consumers save 30% when they use our agency to search for all major carriers in their state.
Call us today at 1-877-221-6198 or use the form on the right of this page to receive an unbiased evaluation of insurance offerings available.