Disability Insurance Information
Disability insurance may provide partial income replacement if the insured person is injured or becomes ill and can no longer work. Many disabilities are not covered by other types of insurance, such as workers’ compensation.
If you depend on your income from a job to pay everyday expenses, disability insurance can help provide financial protection if you are forced to stop working due to a disease, illness or injury.
Contact Reidel Insurance Agency to learn more about your disability insurance options.
How Many Types of Disability Insurance Are There?
There are two main types of disability insurance:
- Short-term disability (STD) coverage typically has a waiting period of up to two weeks with a maximum benefit period of two years.
- Long-term disability (LTD) coverage has a waiting period of three to six months and a maximum benefit period that might be as short as five years or last throughout the insured person’s lifetime.
How Much Disability Insurance Do I Need?
Disability insurance typically pays up to 60% of your regular income after the insurer approves your claim.
The amount of disability insurance you need is based on numerous factors specific to your situation. Your agent can help you evaluate current and future financial needs to help you understand getting the appropriate disability coverage.
How to Get Disability Insurance
While many employers provide access to disability insurance, these policies may not have enough coverage to meet your needs. Contact Reidel Insurance Agency in Reynoldsburg, Ohio, to learn more about getting adequate disability coverage.