Disability insurance is an essential safety net for anyone who relies on their income to support themselves and their family. A sudden illness, injury, or chronic health condition can take you out of the workforce for an extended period, potentially leading to financial hardship. While health insurance can cover medical costs, it doesn’t address the loss of income. Disability insurance ensures that your financial needs, such as paying bills, maintaining your lifestyle, or taking care of dependents, are met when you cannot work.
Disability insurance can also offer flexibility and customized options to suit your needs. You can choose between short-term or long-term disability insurance based on how long you may be out of work. Short-term disability typically covers a few months of income loss, while long-term disability can last for several years or even until you reach retirement age, depending on your policy.
Additionally, some plans allow for an inflation rider, which adjusts your benefits in response to the rising cost of living. This helps protect your purchasing power if your disability insurance is activated after a long period of time.
Jobs with higher physical demands or increased risk of injury typically lead to higher premiums.
The higher your income, the more you may need to replace, which can increase the cost of your premiums.
Younger, healthier individuals are usually seen as lower risk, resulting in lower premiums.
The terms of your policy, such as coverage length, waiting periods, and additional riders, can affect the overall premium cost.
We’re happy to answer any questions you may have and help you determine which of our services best fit your needs
Copyright © 2025 Safebond Insurance. All rights reserved.