In 2003, two respected disability insurance veterans, with over 50 years of combined experience in the insurance industry, decided to share that knowledge through the Internet, so they set out to create a full-service disability insurance website, ProtectYourIncome.com.
Whether in our “bricks and mortar” operation or through our website, our primary goal has always been to assist our clients with their insurance planning with integrity, honesty and client focus.
Some of the Companies we Represent
We make it simple to compare disability insurance quotes for most occupations, so don’t wait another day to start on the road to protecting yourself and your family with disability insurance – fill out our Disability Quote Request form today.
How much will coverage cost?
You should expect to pay between 1-4 percent of your annual income. These percentages are a rough estimate, based on selection of certain benefits and options. Our representatives will assist you in purchasing the coverage that fits both your needs and your budget.
How much benefit should I have?
You should have enough coverage to maintain your current lifestyle until you are able to return to work, factoring in all other sources of income (group disability policy, investments, etc.).
What options should I choose?
Each company will offer different riders, but most have the following options we typically recommend:
- Residual disability provision: Under a residual disability provision (either in the policy or available by rider), an insured receives a percentage of his or her disability benefit based on the percentage of income loss the sickness or injury has caused.
- Inflation protection: Individual disability income policies generally offer a cost of living rider that will adjust benefits for inflation during a long-term claim.
- Future increase option: As long as your increased income qualifies for more coverage under the company’s issue limits, the future increase option guarantees your right to purchase additional coverage up to a stated age without evidence of
When should I purchase disability insurance?
As soon as you can. There are several reasons not to “put it off until later.” The most obvious reason is the cost of coverage will increase as you get older. If you are earning an income, you need to protect it now. Also, if you are currently in good health, you should have no difficulty qualifying for a policy. However, if your health declines or if you experience a disability, you may no longer be insurable (if you are still insurable, it will certainly be at a higher premium).
How much benefit can I have?
Most insurance companies will cover up to 50-60% of your income. All companies have a maximum amount they will cover.
Why do I have to provide proof of income?
Just as financial institutions require income verification for mortgages, loans, etc., income verification in the form of tax returns, W2’s and/or pay stubs is needed for disability insurance. After all, the insurance company is accepting a potentially large financial risk.