Make Disability Insurance A Part of Your Financial Safety Net
1 in 4 people living in the U.S. will suffer a disability lasting for more than a year before the age of 65.
Rely on the experience of Lifestyle Life to help protect you and your family with the right Disability Insurance policy.
The statistics are alarming.
62% of personal bankruptcies in 2007 were due to an inability to pay medical expenses.
62%
65% of applicants for disability benefits through Social Security are denied the first time.
65%
Nearly half of the one million Americans who filed for bankruptcy protection last year did so as the result of an unexpected injury or illness.
50%
90% of disabilities are due to illness, while 10% of disabilities are due to injury.
90%
Everything You Need To Know About Disability Insurance
There are several definitions of "disability" within a disability insurance policy; therefore there are a few ways that you can be disabled under the terms of the contract. Most simply, a disability is a sickness or injury which interferes with your ability to work.
Content
- Income Protection When You Need It
- Can I Qualify With My Medical History?
- How Much Does Disability Insurance Cost?
- I Have Disability Insurance At Work. Can I Get More?
- Few Things To Consider
- Supplemental Disability Insurance
- The Underwriting Process
Income Protection When You Need It
When you fall ill or are injured in an accident, you have enough on your mind without having to worry about where your income will be coming from.
Your income, the foundation of the lifestyle you have created, affects you and your family's everyday activities and plans for the future.
Disability insurance gives you the peace of mind that you are financially protected should an injury or illness occur.
Can I Qualify With My Medical History?
As with any insurance product, there are many variables that need to be considered for qualification. In fact, very few people simply sail through the underwriting process – it is not easy to obtain maximum coverage at competitive rates. However, our experienced disability team will work with the underwriter to provide the best disability coverage available from the insurer.
We have the experience and knowledge of the many underwriters in the market place to help even some of the most difficult cases get disability insurance.
How Much Does Disability Insurance Cost?
Disability insurance is priced according to a number of factors. Some of these include: the elimination period, benefit period, age, optional riders, premium structure, occupation class, gender, state, health, amount and type of coverage, and benefit amount.
As a rule of thumb, you can expect to pay between 1-3% of your annual income for a quality disability insurance plan.
Disability insurance is one of the most vital pieces of your financial plan. If you have not secured a solid income protection plan through disability insurance, your entire financial future may be in jeopardy.
I Have Disability Insurance At Work. Can I Get More?
Yes. Depending on the coverage provided by your employer, consideration should be given to adding a supplemental disability insurance policy.
This type of policy can increase your percentage replacement of income up from the actual 45% (60% minus taxes during the claim) that you typically receive from an employer. This policy can also guarantee you the ability to have portable disability insurance, as well as likely give you more comprehensive disability coverage.
Supplemental Disability Insurance
A supplemental disability insurance policy will often times have a more comprehensive definition of total disability, a significantly better residual disability rider, and can also help protect against inflation with the addition of an optional "Cost of Living Adjustment Rider".
Individual disability is also portable and can be carried with you from state to state and job to job.
The Underwriting Process
As previously mentioned, it is not easy to obtain maximum coverage at competitive rates. However., this is what we do every day. Our team works directly with the underwriters to make sure that we appropriately navigate any health, lifestyle, or occupational risk that could present a challenge in getting you the best coverage possible.
You are in safe hands
Enjoy financial protection that always comes with peace of mind.
Kevin has assisted us in finding the most appropriate and cost-conscious life insurance. We felt very well directed in his hands, as he is well-versed in the intricacies and nuances characteristic of life insurance underwriting. He has also guided us to some knowledgeable associates when we were searching for a more affordable health insurance for our family. We were given excellent and timely advice. It is an added bonus that Kevin is so personable, warm and genuinely caring about his clients.
- Kara Veigas
Kevin acheived verifiable results for me in a timely and professional fashion. I would highly reccomend him for all of your insurance needs.
- Eric Dietz
Kevin is very knowledgable on insurance matters, and has helped a number of my clients obtain the insurance they desired. I have no hesitation in referring clients to Kevin, and each time I have done so the client has had a positive experience.
- Timothy Monahan
I have been working with Kevin and his company for nearly a decade now. He has always been extremely professional and proactive in the services he provides. We have established a strong business relationship which I value and trust and look forward to continuing to work with him in the future.
- Joey Beard
