Disability Insurance For Individuals

Life can be uncertain. You may be working as a professional with a handsome income and the next day you can meet with an accident or even become sick due to which you can be unable to return to work for a short or long time. Have you ever wondered how you are going to manage your expenses like house rent, grocery bills, electricity bills, kids’ tuition fees, etc? In such conditions, you may have another very important expense that cannot be avoided; medical bills. This is why you need to have disability insurance for individuals, which is aimed to help you ensure your financial freedom when you are unable to earn due to physical or mental disability.

What Is Disability Insurance?

As the name suggests, disability health insurance for individuals is a very common type of insurance plan that is often neglected by the people out there. The goal of this type of insurance plan is to ensure providing you have the required income in the event of your disability when you are unable to return to work.

As a breadwinner of your family, you rely on your income to fund every aspect of your life. Your family relies on your monthly or weekly income to bear all kinds of expenses. But when you are unable to work and earn, this is where a disability insurance plan comes into the picture. As a working professional, when you are not covered under a worker’s compensation plan, you can opt for a long-term or short-term disability plan for individuals. Commonly, there are two different main types of disability insurance for individuals. These are:

Short-term disability insurance – Short-term disability insurance for individuals is a type of disability insurance plan that helps protect your financial freedom when you are unable to work due to illness or accident for a short term. The best part about this type of insurance plan is that it comes with waiting periods between zero to 14 days and a maximum benefit period of two years.

Long-term disability insurance – This is another type of disability insurance plan for individuals. Long-term disability health insurance for individuals can provide you financial protection in the event of disabilities that can last for more than two years. It is worth keeping in mind that long-term disability insurance plans come with longer waiting periods, which can range from several weeks or several months.

Why purchase personal disability insurance?

As a working professional, your biggest asset is your ability to work and earn income to support your family’s financial needs. So, it makes sense that you invest in disability health insurance for individuals that can have you disability protection. Here are some reasons that you need to buy short and long-term disability insurance for individuals.

Income Protection – One of the most important reasons for buying long-term or short-term disability plans for individuals is that it can help you with regular income, especially when you're unable to work due to a disability. With this, you can still take care of all your monthly expenses even when you are not working.

Medical Bills – It is a fact that when you become disabled, you not only have other expenses to manage, you the condition also comes with hefty medical bills. This is another reason that you need to go with disability health insurance for individuals as it will help you take care of your medical expenses and it will cover these expenses, including hospital stays, rehabilitation, and ongoing medical treatments.

Maintain Standard of Living – When you become disabled and not earning anymore, there is no need to compromise with your standard of living as the disability insurance plan will ensure your financial freedom so you can maintain your lifestyle by providing a steady stream of income.

Supplement Employer Coverage – There are many employers who will provide you with disability insurance, but it is often not enough to cover all your needs. This is why you can also get additional disability insurance for individuals that can help fill the gaps and provide additional coverage.

Peace of Mind – Just imagine the peace of mind, knowing that all your finances will be easily managed, even when you are unable to work and earn. This is a very important reason that you need to go with a disability insurance plan. With the plan in hand, you don’t have to worry about how you'll support yourself and your family if you're unable to work.

One very important thing about the disability insurance plans is that there are some options available that come with the combination of short-term and long-term benefits for individuals. In this type of short and long term disability insurance for individuals, long-term coverage is applicable after short-term disability insurance runs out. You can also choose to customize and simply opt for a long-term disability insurance plan and also add some raiders to your plan.

Ensure while at your best

It is a fact that not many people think about ensuring the financial protection of their loved ones as they never think too much about not being able to work due to disability. However, disability is more common than you might think. Over 1 in every 4 people in America become disabled due to various factors. This way it makes sense to protect your family’s financial freedom while you are able to work and pay the premiums for long-term and short-term disability insurance for individuals. This is not a liability but can serve as an investment that you make for your future.

At Quixory, we bring to you custom disability insurance plans from the top insurance providers so that you can maintain a flow of income even when you are unable to work. We also provide you with the required technical and professional support to help you find the best type of long-term or short-term disability plans for individuals to protect your financial freedom, even when you’re unable to work due to physical or mental disability.