Purchasing Disability Income Insurance requires careful thought on your part. You will want to consider several key     questions before purchasing a policy.

1. What is the policy’s definition of “total disability”? How long are you covered for your own occupation?   The more coverage you have for your own occupation, the better protection you will have.

2.  Does the policy allow for an increase of your premiums? If so, under what conditions can the premiums increase?

3. When do you want the policy to start replacing your income? Do you want payments to start in 30, 60, or 90 days, or maybe in six months or a year?  A policy that starts paying sooner will carry a higher premium.

4. How long do you want the coverage to last?  Is three months, six months, two years, or until age 65 the coverage your desire?  A longer coverage period will mean a higher premium.

5. Disability Income Insurance generally replaces 45-60% of your income. If you are paying the premiums on the policy, the money from a Disability Income Policy is normally tax-free, so full replacement is not generally needed. Do you want to replace your full income, or do you want to select a flat dollar amount to cover a mortgage?

 You will also need to be prepared to provide the Insurance Company with information about your health conditions and financial situation.  For example, are you requesting more coverage than you are presently earning?

Selecting Disability Income Insurance is a decision requiring thought on your part and professional advice. If you request a quote, part of the service I provide is a “no hassle” consultation along with the quote.
Call me at 800-333-1270 or 717-225-9596 for a no hassle, no pressure phone conversation.