Disability Insurance Basics
While nobody ever expects to be disabled, it can happen to anyone. If you get disability insurance through your employer, you may think that you have the coverage that you deserve. However, you may also need to invest in your own policy to ensure that you are protected.
Disability insurance can be one of the most confusing insurance policies to invest in, which is why it is so important to work closely with your independent insurance agent. When looking for the perfect policy that will meet your specific needs, there are many factors to consider. Make sure to ask these common disability insurance questions to make sure that you find the right coverage for you.
- What percentage of my income will be replaced by my policy if I become disabled?
- Will bonuses or commissions be covered through the policy on top of my base salary?
- Will the payout amount increase as the cost of living increases?
- Is there a maximum payout amount that will be made per year, no matter how much I am currently earning?
- If I am never able to return to work, can I continue to receive payouts forever? Or will the benefits end when I reach a certain age?
- Is it guaranteed that I will be able to renew the policy each year, all at the same price? If not, how much will the cost increase?
- If I continue to pay my premiums on time, are there are other situations that may lead to my policy being canceled?
- Is there a waiting period after I become disabled before I am able to start collecting the benefits?
For all of your disability insurance coverage needs and to make sure that you have the coverage that you deserve, contact the independent insurance agents at ISU – Wissink Insurance in Culver City, California.