How much is Disability Insurance? This is a very common question when it comes to buying something new, but especially for Disability Insurance. Although most people may have heard of this type of coverage, most don’t know the ins and out about it. Many people view it as “just another insurance” or something that they will never need. But, as we all know, life can be very unpredictable. This type of insurance can be used when you are unable to work and earn an income due to an injury, illness, or disability.
What Do I Get With Disability Insurance?
The main benefit of Disability Insurance is you will receive money while you can’t work. You may not be able to work due to:
- A head injury
- Car accident
- Sporting accident
- Broken limbs
- Recovering from pregnancy
- Mental health issues
While you are recovering, you will still continue to get money, which can be used to maintain the lifestyle you have. The money you get can be used for:
- Paying your mortgage or rent
- Child care
- Car payment
By having this money, you can continue to pay for life’s needs and wants for you and your family. This prevents the financial strain you may have felt from not working and not having Disability Insurance.
What Else Should I Know?
Disability Insurance has helped thousands of people from financial ruin. By receiving money, you are able to continue paying for your daily bills. This will prevent you from:
- Going into debt
- Losing your house
- Losing you car
- Borrowing from others
- Maxing out you credit cards
- Opening new lines of credit
How Much is Disability Insurance?
Unfortunately, Disability Insurance doesn’t have one fixed price. It varies from person to person. Insurance companies take a variety of things into consideration in order to come up with how much it will cost someone.
It is often best and highly suggested to work with an independent advisor. They are not loyal to any one company, and can hunt down the best prices and policies for you. We recommend choosing the insurance policy that fits your needs, budget, and lifestyle versuspicking a policy from a company you may have seen on tv.
How Is The Price Determined:
Insurance companies use some key factors to determine how much you should pay to be covered by Disability Insurance. They will look at things like:
- Your current and past health
- Your income and job
- Your lifestyle
- Your urine & blood sample result
After they analyze all of these things, they assign a risk value and then determine a price for you.
Connect With a Disability Insurance Advisor Today!
Our independent advisors have years of experience helping individuals and families insure themselves with Disability Insurance. An advisor can help explain policies, compare options and benefits, and answer all of your questions. In addition, our advisors can help you find out how much is Disability Insurance for your individual situation. Fill out our Contact Form or call us directly at (800) 788-8921.