If you become disabled and unable to work for a significant period, getting a disability insurance plan can help cover you financially. Disability insurance can help pay your benefits when you can’t work due to your condition. Some of the various types of this insurance include short-term disability, long-term disability, and individual disability insurance. If you’re looking for this type of insurance, our insurance agents at A. L. Saland Insurance Solutions Inc. serving Odessa, TX could help you identify the right one for your needs.
Common Types Of Disability Insurance
Short-Term Disability Insurance
If you can’t work for a short amount of time, short-term disability insurance may be a good option for you. It usually pays for a portion of your income if you’re unable to work for a few days or months due to an illness or injury. This type of plan usually has a benefit period of 1 year or less. Short-term disability insurance can cover women who are on maternity leave, musculoskeletal injuries that could be temporary, or non-work-related injuries.
Long-Term Disability Insurance
However, you may have a more serious condition that can cause you to not work for years. In that case, long-term disability insurance may be beneficial. This type of disability insurance plan usually has a benefit period of 2 years, 5 years, or age 65. If you become seriously ill or have a severe injury that prohibits you from working anywhere, you may qualify for this disability insurance. The three types of definitions of a long-term disability insurance plan are true own occupation, modified own occupation, and any gainful occupation.
Individual Disability Insurance
This disability insurance plan is available on a long-term or short-term basis. However, this plan is usually purchased privately. Many business owners and other professionals like to enroll in individual disability insurance. The benefits usually vary between individual long-term disability and short-term disability plans.
Contact Our Office Today
Finding the right disability insurance plan could be an easy process. Our Odessa, TX insurance agents are here for you to help you decide on the right plan for you. The financial impact of being disabled and out of work could hurt anyone. Contact A. L. Saland Insurance Solutions Inc. for help today.