Disability Insurance

Disability insurance covers illnesses or injuries that prevent you from working. This may include cancer, back injuries, heart disease, mental health conditions, and neurological disorders. Coverage is based on your inability to perform your job, not the specific diagnosis.

Yes, disability insurance can protect your income if you’re unable to work due to illness or injury. Since your paycheck funds your daily expenses, protecting it is essential. It provides financial stability during unexpected health challenges.

Most disability insurance policies cost between 1% and 4% of your annual income. Premiums depend on factors such as age, health, occupation, and coverage amount. Choosing a longer waiting period can help reduce costs.

Most policies replace about 60% to 70% of your pre-disability income. Benefits are usually paid monthly while you remain eligible. This income helps cover essential expenses during your recovery.

Yes, many insurers accept applicants with pre-existing medical conditions. Depending on the condition, coverage may include exclusions or adjusted premiums. Eligibility varies by insurer and your health history.

Short-term disability insurance provides benefits for several weeks or months after a disability occurs. Long-term disability insurance starts after the waiting period and can last for years or until retirement. Many people use both for comprehensive protection.

Benefit periods can range from a few months to age 65 or longer, depending on the policy. Longer benefit periods generally result in higher premiums. The right option depends on your financial needs and goals.

Yes, many disability insurance policies cover conditions such as depression, anxiety, and PTSD. Coverage applies when the condition prevents you from performing your job duties. Some policies may place limits on the duration of mental health benefits.