Why You Need Disability Insurance

We all go through instances where you face some type of unfortunate events in our lives. Disability insurance can prove to be invaluable if you aren’t able to work due to an illness or some sort of accident. It can help you out financially even when you are not bringing in a paycheck from work. This type of insurance acts as sort of a protection just in case these types of unfortunate events happen in your life. Here’s how you can get disability insurance for yourself.

Through an Employer

Many employers offer employer sponsored disability insurance. In fact, it’s not uncommon for them to pay at least some of the premium. To find out if this is the case, you will need to check with your company’s HR department to determine if you can purchase disability insurance through them, the costs and when your open enrollment period is to add this type of insurance. Your HR department can also be pretty helpful if you have to file any disability insurance claims san diego ca. Even if your employer won’t pay any part of the premium, in most cases it’s still pretty affordable to purchase this type of insurance through your employer.

As Part of a Professional Association

There are quite a few professional organizations you can join such as AARP or The Writers Guild Of America. If you are part of a professional association then you may be able to purchase disability insurance through them. One of the nice things about purchasing disability insurance this way is that they often offer group rates for their members. What this means is that you can usually get pretty decent coverage at an affordable rate.

On Your Own

It’s not uncommon for individuals to buy disability insurance on their own. They may not have access to it through an employer or professional association or they simply may be looking for a different policy. Whatever the case may be, you will have a lot of options. You can purchase insurance directly from the company offering it or you can use an insurance broker to assist you. When determining the costs of a policy you will need to provide information such as your age and overall health status, your gender and the occupation that you are employed in. Don’t be surprised to find that there is often a waiting period before coverage kicks in. This is called an elimination period and the longer it is the less the monthly premium tends to be.

In conclusion, disability insurance can be beneficial for almost everyone. Fortunately, you can purchase it through either your employer, a professional association or on your own. Before you purchase a policy, find out how much it covers and what constitutes a disability. By purchasing the right disability insurance, you can ensure that you will be able to make a claim and get the coverage that you need if you suffer from an illness or an accident.