Disability Insurance

Your income is essential—so what happens if an illness or injury prevents you from working? Disability insurance replaces lost income, helping you cover expenses and protect your financial future.

Disability Insurance: An Overview

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How Disability Insurance Can Help You

Disability insurance ensures that even if you face a temporary or permanent disability, you can maintain your financial independence. It helps alleviate the stress and burden of covering daily expenses when you are unable to earn an income. This protection allows you to focus on recovery without worrying about how to pay your bills or support your family during a challenging time.

Benefits of Disability Insurance

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Financial Security

It offers peace of mind knowing that you have a safety net in case you are unable to work due to an injury or illness.

Income Replacement

Disability insurance provides a percentage of your pre-disability income, typically between 50-80%, helping you maintain your standard of living.

Customizable Coverage

You can choose from various policies to match your needs, with options for short-term or long-term coverage.

Protection Against Unexpected Events

Accidents and illnesses can happen to anyone. Disability insurance protects you from the financial consequences of these unforeseen events.

Short-Term vs Long-Term Disability Insurance

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Short-Term Disability Insurance

• Provides coverage for a limited period, usually between 3 to 6 months.

• It is typically used for temporary disabilities such as recovery from surgery, pregnancy, or minor injuries.

• Benefits start quickly, often within a few weeks of the disability occurring.

Long-Term Disability Insurance

• Covers more extended periods, often starting after short-term disability benefits end and can last for several years or until retirement.

• It is designed for more severe or permanent disabilities that prevent you from working for a long time, such as chronic illnesses, major injuries, or severe mental health conditions.

• The waiting period before benefits begin is longer, usually 90 days or more.

Medical Underwriting vs. Non-Medical Underwriting

Medical Underwriting

Medical Underwriting involves a detailed assessment of your health before an insurance company issues a policy. This process typically includes:

• A review of your medical history, including any pre-existing conditions.

• A physical examination or lab tests may be required.

• The insurer uses this information to determine your eligibility for coverage, the premiums you’ll pay, and any exclusions or limitations on your policy.

Non-Medical Underwriting

Non-Medical Underwriting skips the in-depth health assessment. Instead, it may involve:

• A simple questionnaire about your health and lifestyle.

• Verification of basic information like age, occupation, and income.

• This process is usually faster, but it might result in higher premiums or lower coverage amounts, as the insurer assumes a higher level of risk without detailed medical information.

No Obligation Consultation

Disability insurance is an essential component of financial planning, offering vital protection if you become unable to work due to illness or injury. Understanding the differences between short-term and long-term coverage, as well as the underwriting processes, can help you choose the right policy to safeguard your income and maintain your financial security.

Protect your financial future with a reliable disability insurance policy from Diversified Insurance Brokers. Whether you need short-term coverage for temporary setbacks or long-term protection for lasting conditions, our team is here to help you find the right plan for your needs. Don’t leave your income unprotected—secure peace of mind today. Contact Diversified Insurance Brokers to discuss your options and get a personalized quote.