One in four workers becomes disabled at some point in their working careers. In such cases, these disabled workers can be left without a means of paying their bills and providing for their families. That’s where disability insurance comes in. However, when it comes to getting an insurance policy for disability, there are many caveats. The team at DTRT Insurance Group has created this brief guide on how individuals can acquire the ideal insurance policy for their needs.
How to Acquire a Disability Insurance Policy
The way that individuals attain their insurance policy often differs based on the nature of the disabilities that they want preemptive coverage for. A major factor that determines the type of insurance policy needed is whether a working individual desires coverage for short or long-term disabilities. The decision between short and long-term disability coverage can dramatically change the process of acquiring an insurance policy as well as the options available to a working individual.
Insurance for short-term disabilities is often offered by employers as part of their employees’ benefits package. This group insurance policy is typically cheaper per individual due to the bulk discounts gained by covering a large group of employees. It is also common for employers to subsidize a portion of the premiums, further lowering the expense for the employee. To get started with a disability policy, check with your employer and fill out application documents as needed.
If an insurance-seeking individual is self-employed they can contact a professional association and apply through the association by providing their income, information about their coverage desires, and other relevant information.
Insurance for long-term disabilities is occasionally offered by employers, and employees can check in with their employer to see if it is part of their benefits package.
However, insurance for long-term disabilities is typically purchased through a financial professional. In such cases, insurance-seeking individuals will need to apply online or in-person with an insurance provider by providing their personal information as well as information about their coverage desires.
Fill out our quote form at DTRT Insurance Group to receive your free insurance quote today!