Long-Term Disability Insurance

Protect Your Financial Freedom with Long-Term Disability Insurance

Let’s have a look at some interesting facts; over 1 in every 4 people aged 20 years old are likely to become disabled before they retire. Some of the common reasons for disability include pregnancy, mental health issues, cancer, etc. If planning for long-term disability insurance is not on your list, then it’s high time that you should start thinking about it. It’s the key to ensuring the financial protection of your loved ones so you have a steady stream of income, even when you’re unable to work. Your single decision to buy a long-term disability insurance plan can help ensure your physical or mental disability won’t permanently damage your financial confidence.

At Quixory, we understand that lack of finances can make a huge difference to your lifestyle as well as your regular expenses like electricity bills, medical bills, grocery, kids’ education fees, etc. This is why we bring to you the best long-term disability insurance quotes so that you can make the right choice as per your financial needs and monthly income.

With our long-term disability insurance plans, our goal is to ensure the protecting of your income, even when you’re physically or mentally disabled and not able to work for a long time. You can also get an instant long-term disability insurance quote on the website and then plan things accordingly. You just need to answer a few basic questions and you’ll get the long-term disability quote on your computer screen or mobile device. Let’s have a look at everything you need to know about long-term disability insurance plans.

How much does long-term disability insurance cost?

When you plan to buy long-term disability insurance, the biggest concern to come to your mind can be the overall cost of buying the insurance plan. To make things simple, the cost of buying a long-term disability policy can vary depending upon various factors like the length and amount, age, gender, occupation, and policy riders. One key factor to keep in mind when you buy a policy is that you should expect to pay between 1 to 3 percent of your annual salary.

The premium you can pay for a long-term insurance policy can be anywhere between $25 and $500, which also depends on the factors that we discussed above. One of the important parts about investing in the best individual long-term insurance policies is that the income isn’t taxed, but when you go with a group plan, then the benefits will be taxable.

Factors That Affect The Overall Long-Term Disability Insurance Costs

The quote you get for long-term disability insurance plan may vary depending on various factors, some of which include:

Age – This is one of the biggest factors that affects the cost of an insurance plan, especially long-term disability insurance plans.  The earlier you buy long-term disability insurance, the lower your premium rates will be. The reason here is that during an early age, there are fewer chances of sustaining a disability due to health diseases. When we age, there are higher chances of diseases, so it’s better to save more and get your long-term disability insurance instant quote before it becomes costly.

Gender – According to statistics, men are likely to pay less for disability insurance. The reason here is that women are more likely to file more claims due to mental health conditions and pregnancy. But at the same time, the long-term disability insurance cost will increase faster for men than for women. Men pay about 50% higher rates at age 40 in comparison to women.

Occupation – One interesting thing about long-term disability insurance plans is that their cost may vary, depending upon the nature of your work and the risk factor involved. For example, the IT professionals are likely to pay less than the truck drivers and construction workers, due to high risk involvement in the latter professions. So when you ask for a long term disability quote, make sure to provide accurate details about your profession and occupation.

Health – Just like any other insurance plan, you have to bear more charges as a monthly premium due to your health factor. People with a history of disabling conditions such as back injury and a family history of disability conditions are likely to pay higher premium charges while the people who are healthier and often involved in physical activities pay less.

Coverage amount – It is a fact that not everyone will want to receive the same amount of financial support in the event of a physical or mental disability. So, the amount you want to receive as a monthly payout will make a huge difference to the amount you pay for the premiums. In general, the premium of your long-term disability insurance cost can be between 60 to 80 percent of your monthly salary.

Benefit period – Similarly, the longer you want to receive financial support in the event of physical or mental disability, the higher premiums you have to pay. This is the reason that many people often opt for short-term disability programs that are often cheaper. But you get more benefits with a long-term insurance plan as you will receive financial support from two years to retirement, or until you recover from your disability.

Waiting period – If you want to eliminate the hassle of receiving your financial support when you need it the most, it is always good to go with a plan that has less waiting period. It’s the amount that you will receive after you are disabled until you can start receiving benefits. Remember, waiting less is always good when you are unable to work and need financial support.

Quixory – Your Trusted Long-Term Insurance Partner!

When it comes to buy long term disability insurance plan, you have to be very careful. After all, it is the plan that will be your partner for financial freedom when you need it the most; in the event of physical or mental disability. You don’t want to partner with any service provider or insurance broker and then regret later. This is where Quixory comes into the picture. We’re rated among the top insurance service providers, serving as a bridge between the long-term insurance seekers and insurance providers across the United States of America (USA). We’re always searching and discussing about the best insurance plans available so that you can get the best deals when looking for long term disability insurance quotes online. At Quixory, our team is dedicated to offering the best cost for insurance plans.

When you deal with Quixory, you know that your financial freedom is in safe hands. This is why, we also bring to you the option of custom long-term insurance plans with cheapest cost. to serve you with the best options available out there, we have hired a team of highly skilled and trained professionals who know the insurance market better than the others and can also help you with everything you need to be aware about before signing for a long-term insurance plan.

Want to know how we can help you with the best long-term long term disability insurance instant quote online? Connect with us or get the quote online with a few clicks on our website.