Disability Insurance

Paying for Disability Insurance

Recovering from an injury or illness requires time from work. But although you’re unable to work, your bills are still waiting to get paid. This is where disability insurance helps. Disability insurance compensates you during your recovery period. You may need long-term or short-term coverage to help ends meet during your recovery.

You expenses don’t stop just because you’re unable to work. So with disability coverage, you’re paid a monthly benefit for a specific number of months. It doesn’t replace all of your income, but it does replace a portion of your monthly take-home pay.

You can purchase your own disability insurance from an insurer. Or you job might offer it as a workplace benefit. This applies to long-term and short-term coverage. If you’re permanently disabled, then you might need permanent disability. That type of coverage comes from the government, and it’s for people who can’t work at all because of a permanent disability.

Several things affect how much you pay for coverage. You age, health, and gender are just a few examples of what insurers will look at. Disability insurance is highly-recommended for people who are self-employed with no other source of income.