Individual Disability Insurance

This is one of the most difficult forms of insurance to get issued. Individual Disability Income policies will pay you an income if you are sick or hurt and can't go to work. Benefits begin after an "Elimination Period" such as 30, 60, 90 days, etc. Once benefits begin, and you remain disabled, benefits can continue for the term of the policy, which can be 2-years, 5-years, age 65 or even for life.

Pricing is based upon your occupation. It is not the risk of your occupation that matters nearly as much as the ease of returning to work. Some jobs primarily require the use of your brain and possibly the ability to think and speak. In that type of job, even if you are in a wheel chair, you can perform your duties and might not be considered disabled. Other jobs require you to walk, so a broken leg might not permit your return to work. Jobs that require physical effort and strength are the most expensive to insure. While women live longer than men, they tend to be disabled more often and longer, so female disability premiums are higher than for a male in the same occupation. If your occupation involves a "Specialty," you can insure for your inability to work in that specialty.

Quality Disability Income policies are issued so that the insurance companies can never cancel them or increase your cost. The phrase for this feature is "Non Cancelable." If the policy is issued so that the insurance company cannot cancel coverage, but can raise rates for everyone (not just you), then the policy is called "Guaranteed Renewable." The best policies are Non Cancelable and you pay for that.

The purchase of disability income protection is as much an analysis of policy definitions and provisions as it is price. We can help you find the right contract to meet your needs.

For further information, contact us at 1-888-PLAN AHEAD or at info@vbscorp.com.