When we buy something that is new to us, we want to know everything about it. But, most of all, we want to know how much it’s going to cost us. This is especially true with Disability Insurance. Being a type of insurance that is not as known as health and car insurance, Disability Insurance can be somewhat of a mystery to people. We are going to be highlighting a variety of facts that go into determining Disability Insurance cost.
Disability Insurance Cost
Disability Insurance can be thought of as an item that is personalized to you depending on many things. Insurance companies look at key factors to determine if they should insure you and for how much. You are going to be asked a lot of questions so that they can gather the most information and make an informed decision.
- Job & Income: The insurance company you pick will ask you about your job title and responsibilities. They will probable also want to know how long you have been at that job and your job history. You will have to answer questions about you income as well.
- Age: Sometimes it’s hard to pay for something we are not sure if we are going to need. But, the rule of thumb for this type of coverage is: The younger you are, the cheaper it will be.
- Health: Most likely, you insurance company will have you get a physical, which will include a blood and urine sample. They want to know how healthy/unhealthy you are, what ‘s conditions have you had/ or have, if you’ve had an surgeries, and if you are a smoker.
- Lifestyle: You may wonder why an insurance company wants to know about your lifestyle, but they want to know who are they insuring. You will be asked about your hobbies and activities you participate it.
Other Things to Know
The insurance company will have their underwriters analyze the above information along with any paper work you filled out. They will determine if they want to insure you and how much you will have to pay for you premium. It is important to note that while an insurance company wants to know many thing about you, and you should ask them questions too. This is important because you are going to be paying them to insure you and it’s crucial to understand everything before you sign your name on any type of documents.
Insure Your Future
Our Disability Insurance advisors are independent and are not loyal to any one insurance company. They shop the market to get you the best insurance policies and the best Disability Insurance cost.. They will be able to help you along the way from application to filing a claim. Call us today at (800) 788-8921 or fill out our brief Contact Form so that one of our agents can connect with you.