Disability Insurance

FAQs

Disability Insurance [Disability Income Insurance, or Income Protection] is a form of insurance that insures the beneficiary's earned income against the risk that a disability creates a barrier for a worker to complete the core functions of his/her work.

Disability Income Protection
Disability insurance is one of the most overlooked types of Insurance. Insuring your possessions but not your ability to earn is a glaring and common omission. Disability insurance protects income and assures us that the financial aspect of our lives will be protected. Let our agents run a disability proposal for you today. 

Individual Disability Insurance

Those whose employers do not provide benefits, and self-employed individuals who desire Disability Insurance coverage, may purchase policies. Premiums and available benefits for individual coverage vary considerably between companies, occupations, states and countries. In general, premiums are higher for policies that provide more monthly benefits, offer benefits for longer periods of time, and start payments of benefits more quickly following a Disability claim. Premiums also tend to be higher for policies that define disability in broader terms, which means that the policy would pay benefits in a wider variety of circumstances. 

Business Overhead Expense Disability Insurance

Business Overhead Expense (BOE) coverage reimburses a business for overhead expenses should the owner experience a disability. Eligible benefits include: rent or mortgage payments, utilities, leasing costs, laundry/maintenance, accounting/billing and collection service fees, business insurance premiums, employee salaries, employee benefits, property tax, and other regular monthly expenses.

Employer-supplied Disability Insurance

One of the most common types of Disability Insurance is Employer short term + long term Disability Insurance. Some employers pay all or a portion of the premium while others offer it to their employees on a voluntary basis.

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