Disability insurance is designed to provide financial assistance to you in the event that you cannot perform the day-to-day duties of your job.  This differs from critical illness insurance in that the disability must keep the policyholder from working for an extended period.  The level of disability and the inability of a policyholder to carry out his or her job functions are determined by the insurance underwriter.  In the event of a qualifying disability, the policy typically pays out on an agreed upon schedule, providing a regular source of income to assist with the resulting loss of normal wages.  In general, there are two types of disability insurance.  Short-term disability insurance typically has higher premiums and is designed to provide coverage immediately upon injury or disability.  Long-term disability insurance often has lower premiums, but requires a set waiting period after qualifying disability before benefits begin. 

There are established guidelines regarding disability insurance.  Typically, the policy can only cover up to two thirds of the policyholder’s standard income.  In addition, price is determined in part by the job function performed by the prospective policyholder.   

For example: An individual whose employment regularly puts them in harm’s way would pay a higher premium than the individual whose job presents very little risk of injury or illness.   

We will help you determine the amount of coverage you need and customize a policy that meets your financial needs should you become disabled and unable to work. 

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