You have a home, health, and auto insurance policy; why would you need disability insurance? Disability insurance provides crucial financial protection, but many Americans don’t understand it. For this reason, A. L. Saland Insurance Solutions Inc. is answering commonly asked questions about disability insurance.
What’s disability insurance?
This coverage covers a portion of your income when injuries or sicknesses prevent you from returning to your work for an extended period. This coverage is crucial for working Americans because it means you don’t lose all of your income when you miss work due to health concerns.
Do I really need disability insurance?
Most people think that disability insurance is for the critically ill. This notion is half true. While severe diseases like cancer and heart disease may keep you from work, common injuries like fractures and less severe but chronic conditions like back and hip problems can make you miss work. Statistics by the U.S. Social Security Administration shows that at least 25% of Americans aged 20 today are likely to miss work for about one year because of a disabling condition!
If you think that disability insurance isn’t necessary, can you afford to miss your paycheck for months and live normally? If you don’t have adequate savings or a robust support system when not working, disability insurance should be your friend.
Does disability insurance cover all disabilities?
Each plan has its terms and conditions. However, typical disability insurance won’t cover the below:
- A disability following a riot
- Intentional injuries
- War
- Injuries suffered during incarceration
- Pre-existing conditions
The above list is just a guide. Be sure to check your policy document to know exactly what isn’t covered.
Can I work part-time and get disability insurance benefits?
It depends on your policy, but most allow policyholders to work part-time. However, during this time, you will subtract what you are earning from the benefit.
Where can I buy disability insurance in Florida?
Would you like to secure your income with disability insurance? Contact A. L. Saland Insurance Solutions Inc., serving numerous locations in Florida, for an affordable quote.
