Disability Insurance – Frisco, McKinney, Prosper, Celina, Allen, Plano
The team at Sweetness Insurance can help you prepare for some of ‘life’s ups and downs.’ The last thing you want is to experience is an injury and not be able to work. We serve the Frisco, Mckinney, Prosper, Celina, Plano, Allen Texas areas. We’d love to show you ways to prepare for that ‘rainy day.’
What is Disability Insurance?
Disability insurance is a type of insurance that will replace a portion of your income if you become ill or injured and are unable to work for an extended period of time. There is usually a set amount of time, called the elimination period, prior to policy payout out.
What options are available with Disability Insurance?
Short Term Insurance – Which will kick in, in a shorter amount of time. If illness or injury occurs, possibly even at 2 weeks, it will usually cover 60% to 70% of your base pay. There is usually a cap on how much will be paid, for example, $10,000 and there may also be time limits that apply for a few months or a year.
Long Term Insurance – It is not unusual for long term insurance to wait 90 days before kicking in. It usually pays anywhere from 40% to 60% of your base pay until your disability ends. There may be a time limit on how long the payments will occur. Depending on your policy the length of time could be for a specified length of time until you retire, or the remainder of your life.
Why You Should Buy Disability Insurance
Do you rely on your ability to work, and to receive a regular paycheck? Do you have a 3 to 6-month emergency fund available if you have an accident or get sick and are unable to work? If you’re like most of us, probably not. Life happens. How are you going to pay your bills if you can’t work? Disability insurance will provide a portion of your income if you suddenly find yourself unable to work due to illness or injury.
Be sure you understand what the policies definition of ‘disability’ is. Some policies may consider it being unable to work in your current job that you’re trained for. Others might define ‘disability’ as unable to do any job. Some may consider you ‘partially disabled’ and will pay you a ‘portion’ based on how much you are disabled. Yet others may pay nothing unless you are ‘totally disabled.’ So make sure you understand what your policy covers.
Call Sweetness Insurance Today
Our team members are here to help you. When you are sick you don’t want you to be worrying about how to pay your bills and put food on the table. Contact us today to schedule a Free Consultation in the Frisco, Mckinney, Prosper, Celina, Plano, Allen Texas area. When that ‘rainy day’ arrives you’ll have an umbrella there until you get back on your feet.