Understanding the Short-Term Disability Elimination Period
Short-term disability insurance is a valuable resource designed to provide financial protection when you are unable to work due to a disability, illness, or injury.
Personal Disability Insurance
How Your Personal Disability Insurance Rates Are Formed
When it comes to personal disability insurance plans, the terms aren’t so different for both individual and group plans. However, there are some crucial aspects that you need to analyze to make sure you’re getting the best rates under the best conditions.
One of the main factors to consider when applying for long-term disability insurance is the rates, also called premiums. Disability insurance rates have the skillset and experience needed to create the insurance plan that would benefit you in the long run, without impacting your current financial position. When we create the insurance plan, we analyze every individual from a few aspects.
The coverage amount you want
Insurance coverage is the amount of money you would want to receive when you’re not getting a regular paycheck. The bigger the amount you want, the bigger the premium of your personal disability insurance. And since premiums are changed after taxing, all the benefits you will receive from your disability policy will be 100% tax-free.
How long do you want to receive the benefits
Again, this depends entirely on your plans and ideas.
We can make a personal disability insurance policy tailored to your needs and desires so that you can rest assured. You can receive benefits for five years, ten years, even until you start getting your retirement benefits – the choice is up to you.
The longer the benefits period you choose, the higher the premium you will need to pay. It exactly here where our care is shown since we always aim to offer you the personal disability insurance policy that will get the maximum benefits while saving a substantial amount of money.
Your age
Age plays a vital role in the insurance niche. The younger you are when you get your personal disability insurance, the cheaper it will be for you. But, that doesn’t mean that we won’t create a benefit plan if you’re in your middle-age years, or even elderly years. Anyone is at risk of a disability, and everyone benefits from personal disability insurance.
Your health
Disability is closely tied to your health state, and this is the main reason we look into every individual separately. That’s why our insurance plans are tailored independently for every person. Every individual has a different life with different habits that influence it, and the personal disability insurance has to reflect this.
Your occupation
The practice has shown that the more risk a job carries, the bigger the probability of the individual to experience an injury (whether short-term or long-term). Every job carries a different threat, and accord to the size of that risk, personal disability insurance rates are formed.
Your location
The state you’re living in plays an essential role in the premium rate you will get. We have professional agents from every state that you can contact immediately to create a personal disability plan for you that will fit your jurisdiction and your state’s conditions.
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