Disability Insurance
The home you live in, the food you eat, the funding for education, retirement, and even your car – Your lifestyle is made possible through the income you earn.
When you are impacted by an illness or injury, you are prevented from earning an income to support yourself and your family. Here at Heaton Bennett Insurance, we offer disability insurance protection through companies.
Chances are you’ve already purchased home insurance, auto insurance, and health insurance to protect yourself against financial hardship in the event of a loss or sickness. But, what steps have you taken to protect yourself from the loss of income? Would you be able to meet your financial obligations in the unfortunate event that you’re unable to work?
Protect Your Income and Lifestyle
Taking the time now to protect your income with a disability insurance policy could mean the difference between a secure future and a devastating financial burden should you find yourself coping with a long-term illness or injury that prevents you from working.
Frequently Asked Questions
How much disability insurance should I consider?
The appropriate amount depends on your income, monthly expenses, savings, existing benefits, and financial responsibilities. Disability policies commonly replace only a portion of earnings, subject to policy limits and eligibility requirements.
What is the difference between short-term and long-term disability insurance?
Short-term policies are generally designed for temporary periods of disability, while long-term policies may provide benefits for an extended period. Waiting periods, benefit durations, and qualifying conditions vary by policy.
How does a disability insurance waiting period work?
The waiting or elimination period is the length of time an eligible disability must continue before benefits may begin. Choosing a longer waiting period may affect the premium and the amount of savings needed while waiting for benefits.
Can self-employed individuals purchase disability insurance?
Coverage may be available to self-employed individuals, although eligibility and benefit amounts can depend on occupation, income documentation, health, and other underwriting factors. A Texas insurance agent can help self-employed professionals explore available options.
Does disability insurance cover every illness or injury?
Coverage depends on the policy’s definition of disability, exclusions, limitations, and other terms. Review how the policy treats preexisting conditions, occupational risks, and partial or residual disabilities.