How Do I Purchase Disability Insurance
Purchasing disability insurance is very important not only for workers but also for employers who are trying to protect the welfare of their employees
. As a worker, disability insurance will help protect your expenses and future earnings when you get into an accident or an illness and become disabled from completing your work functions. With disability insurance, you will receive a disability claim that is equal to a percentage of your salary. This may not sound too important for you now but it keeps you ready in the long run and being ready for the future is what insurance is all about.
If you dont have disability insurance yet, you must make the important move of purchasing one. However, purchasing disability insurance needs to be thought off well. Since you are eyeing for protection that could last a lifetime, it is highly suggested that you consider various factors before making the decision on which disability insurance to buy. To help you weigh your options better, eDisabilityQuotes.com has come up with some useful tips on how you can purchase disability insurance whether you opt for a
short term disability insurance or
long term disability insurance.
1.First thing first, speak to your employer about the idea of disability insurance. Before you purchase disability insurance, it is highly recommended that you speak with your boss about the idea of getting disability insurance for future protection and security. If your employer is interested, help him or her look at the options. Should he or she declines you may now decide buying one on your own.
2.Go shopping for disability insurance. There are thousands of insurance companies offering disability insurance; do you need to get quotes from all of them? The internet helps you do this easier! Ask for online disability insurance quotes from online insurance quotes providers like eDisabilityQuotes.com
3.Learn the elements of a disability plan. The two important elements of your disability insurance are: the benefits period and the elimination period. The benefits period refer to the amount of time that disability insurance can provide you an income. The elimination period is the period between the time you get injured or disabled to the time when you start getting benefits.
4.To choose the type of disability insurance to get, weigh your options. People who can afford buy both the long term disability insurance and the short term disability insurance. However, if you are short on the budget, the more practical type to purchase would be the long term disability insurance.
5.Buy the right amount of coverage. Check out your plan, its cost, the amount of premium you will be paying, and the amount of benefit claim you will be getting. Calculating your current expenses will help you decide on how much premium you will be able to pay monthly for your disability insurance.
6.Know what is covered by your disability insurance. Dont buy anything without knowing its benefits and disadvantages to you. When buying any insurance, learn and understand first its coverage. Does it provide you all the benefits you need? Some things you should consider are: additional purchase options, coordination of benefits, cost of living adjustment or COLA, residual or partial disability rider, return of premium, and waiver of premium provision.
These are just a few tips you should consider when purchasing disability insurance. Getting
disability insurance quotes online will help make your search easier and faster. Some insurance quote providers will be more than happy to lend you a helping hand when vying for the right disability insurance for you. Visit eDisabilityquotes.com for the most updated insurance rates or call us today at 1-800-971-3214, or email us at info@eDisabilityQuotes.com.
by: Ted Stearns
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