Quality disability insurance in Bandon

What is disability insurance?

Disability insurance helps provide peace of mind. 1 out of 4 employees will be disabled for three months or more at some point during their career. Your ability to earn a living and contribute to your household is likely your biggest asset. Without it, it would be hard to support yourself and your loved ones financially, as well as keep your future on track. Disability insurance replaces a portion of your income—or helps cover the cost of household services for stay-at-home-parents should illness or injury prevent you from doing your job. We can help protect your income, and your family, with a disability insurance policy that’s right for you, including one-of-a-kind protection for doctors and dentists.

Short term disability policies

Your paycheck helps you maintain your current way of life. If you find yourself unable to work, short-term disability insurance will provide cash to help ease the financial stress of a covered illness or injury. Under a short-term disability plan, you can begin receiving the benefits one to fourteen days after the accident or illness and continue to receive benefits for six months or less (up to two years).

Many people forgo disability insurance because they don’t think they’ll ever need it.
However, over 90% of disabilities are caused by common illness or conditions, such as:

  • Pregnancy and childbirth
  • Back and joint disorders
  • Accidents and fractures
  • Cancer

  • Heart attacks and strokes
Long term disability policies

Sometimes life throws you a bigger curve ball and you are unable to earn an income because of an illness or accident, your paycheck stops, expenses continue, and you can’t get back to work. Long term disability is a type of insurance that takes effect after a waiting period (after your short-term disability runs out) typically 90 days and will pay you until you retire until age 65 or 70.

Provisions to look at when purchasing disability insurance:
  • Non-cancellable: A non-cancellable insurance policy is a disability insurance policy that an insurance company can’t cancel, increase the premiums on or reduce the benefits of as long as the customer pays the premiums. Non-cancellable insurance policies give the policyholder peace of mind that the cost, amount of coverage and term are known and that they won’t have to re-qualify for the policy at some point in the future when their health might not be as good and insurance might be harder to get.
  • Guaranteed renewable: A guaranteed renewable policy is an insurance policy feature that obligates the insurer to continue coverage if premiums are paid on the policy. While re-insurability is guaranteed, premiums can rise based on the filing of a claim, injury, or other factors that could increase the risk of future claims. Premiums can also be raised on an entire class of insured people during the life of a guaranteed renewable policy.
  • The cost of living adjustment (COLA): The cost of living rider adjusts the amount of your monthly disability insurance to protect against benefits being eroded by inflation.
  • Partial disability: This provision is usually defined as the inability to perform one or more of the regular duties of one’s own occupation or the inability to work on a full-time basis. This provision would cover a partial loss of income when the insured is disabled to the point that he or she can still work but is not able to perform all their duties.
Personalized

We are committed to protecting you and your families’, finances and future.
By working together, we can design a flexible, personalized benefits plan that is right for you.