Disability Insurance - Who What and When
Tuesday, August 15th, 2006
The most common questions we get in the thousands of inquiries we get about disability insurance are the “who” questions: Who do I buy it from? Who should get it? These are accompanied by: What type of disability insurance is best? What company should I get it from? These are accompanied by Along with, when is the best time to purchase it?
Who to get it from: You should look to a reputable advisor who has access to the leading disability insurance companies and who understands the nuances of the differences among the contracts. Having had over 10,000 disability insurance policies come through our companies and through our disability insurance website we have knowledge that is only gained through experience. Many insurance agents have only a passing knowledge of this specialized field.
The second part of the “who” is which insurance company. The short answer is a company that is financially strong as measured by independent rating services and has definitions in their contract such as “own occupation” that are favorable to you.
Who should get it? Anyone who makes an income that would be financially harmed if they lost that income – just about everyone.
What type of disability insurance is best? The one that pays the most in the most circumstances. Again, that will take an experience advisor to take you through that minefield.
What company should I get it from? This is similar to what type but first and foremost is strength of insurance company and then contract wording.
When should I purchase disability insurance? Now. Why? One does not know if they will be unlucky enough to lose their income but the younger you are and while you are healthy is not only a less expensive time but also guarantees that you will be able to obtain this type of insurance.
Author: Neil Willner, on behalf of Protectyourincome.com, provider of disability insurance quotes and information, writes articles on disability insurance. For more information, visit www.LifeInsure.com and www.Protectyourincome.com
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