Donadio Insurance Group

disability insurance

Disability

 The most valuable resource that anyone possesses is

their ability to provide an income. If everything else that

you own or care about is insured and this ability is

removed there may be no way possible to pay the

premiums on other insurance or even to keep that

which is insured. Disability insurance will

provide you with an income should you become sick or

disabled.

 

Even with benefits such as Workers

Compensation and Social Security, individual disability

insurance benefits are still important. A disability;

financially, can be worse than death, since living

expenses continue and may increase due to a need for

expensive specialized care. Many people also purchase

disability insurance to help ensure a continuous income

should they suffer disabilities that are not covered by

Social Security.

 

Individual disability insurance coverages pay a

percentage of your salary if you become temporarily

disabled, meaning that you are not able to work due to

sickness or injury (excluding on-the-job injuries, which

are covered by workers compensation insurance).

 

Disability Insurance Coverage Features

 

Disability insurance policies have a fixed monthly benefit that does

not increase with time, although you can purchase extra coverage,

called riders, that offer higher payment schedules.

 

Disability types include:

 

Own Occupation - the inability to perform the duties of your

specific occupation or Any Occupation - the inability to perform

the duties of any job for which your education and training make

you qualified.

 

You can choose the length of the waiting period on your disability

insurance policy. Waiting periods can range from one week to two

years and the longer you wait the less your disability insurance

policy will cost.

 

You also can choose the length of the benefit period, which is how

long you will receive monthly benefits once your disability insurance

policy starts paying.

 

 

Short Term Disability Insurance Policy Features

 

Short term disability insurance is sometimes referred to as Accident and

Sickness insurance. It provides benefits for a limited period of time, typically

26 weeks or less. Short term disability usually provides coverage for

accidents or illnesses outside of work when Maryland Workers

Compensation insurance does not apply.

 

You would begin receiving money from your short term disability

insurance policy within 1 to14 days after becoming sick or disabled. The

actual time for coverage to begin depends on whether you suffer an illness

or injury. If you suffer an injury, your benefits will be paid immediately. If you

suffer an illness, it will take longer because there needs to be sufficient time

to show that the illness is grave enough to be disabling.

 

You choose the amount of income (up to 66% of your gross income) from

$400 to $2000 a month when you can't work due to an accident or illness.

 

Benefit periods of up to 2 years!

 

Short waiting periods 1 to 14 days!

 

Long Term Disability Insurance Policy Features

 

Long term disability insurance provides benefits for a limited period of time,

typically 2 or 5 years and is also usually guaranteed renewable until the age

of 65. Long term disability insurance usually provides coverage for accidents

or illnesses outside of work when Workers Compensation

insurance does not apply.

 

You can begin receiving money from your long term disability

insurance policy when the "waiting period", time chosen for the policy is

reached. Typically, 6 months to a year is chosen for a waiting period in order

to reduce your premium, but shorter times are available.

 

You choose the amount of income (up to 66% of your gross income) from

$400 to $3000 a month when you can't work due to an accident or illness.

 

Hospitalization Rider pays up to double your benefit per month

(for two months) if an injury or sickness puts you in the hospital!

  

Benefit periods of 2 & 5 years!

 

Short waiting periods 7, 14, 30, and 90 days!

 

Guaranteed renewable to age 65

 

24 hour coverage - on or off the job!

 

$2,500 Accidental Death Benefit included!

 

No restrictions on how the money is used!

 

No benefit reduction at age 65!

 

Contact us today for more information about Health Insurance or fill out our online quote form.

10995 OWINGS MILLS BLVD,Ste 220
Owings Mills, MD.
443-394-6800

Erie Insurance

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