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Tips to Choosing a Disability Insurance Company

Finding Companies that Sell Disability Insurance

Shopping for disability insurance policies isn’t the same as looking for an automobile policy or life insurance coverage. While there are hundreds of companies competing for your automotive and dwelling policies, the number of insurance companies offering disability insurance is limited and even fewer offer the prized own occupation definition of disability in their policies.

If you start calling different insurance companies to inquire about disability insurance plans, you’ll likely find that most of them don’t write these types of policies. Looking for insurance companies that sell disability insurance on your own can be quite time consuming and frustrating. The good news is that you don’t have to hunt down disability insurance policies on your own. When you request a disability insurance quote from, you’ll receive quotes from top companies offering the most favorable coverage options for individuals in your occupation and situation.

Instead of spending your valuable time searching for providers and completing several lengthy application forms, you’ll be able to focus your time and energy on other matters. There are various quality insurance companies that offer disability insurance, each one offering income protection coverage. Each of these companies differ slightly in their contract wording and options. Deciding which one is right for you depends on several factors, including your occupation, the type of coverage you need, how much protection you want, your current health status, and additional variables. Before you purchase a disability insurance policy, it’s important to make sure that you’re choosing a policy written by one of the best disability insurance companies.

Financial Ratings

The best way to asses the soundness of a particular insurance company is by looking at the firm’s financial strength rating, as determined by one of the recognized independent rating agencies.This is a very simple and efficient way to determine just how sound an insurance company really is. It’s certainly important to choose a solid insurer to meet your income protection needs. After all, it’s essential to purchase income protection coverage from a disability company that is likely to be in business and able to honor your policy if you ever need to file a claim.

Factors Affecting Disability Plan Choice

When choosing among Disability Insurance Policies from several companies , it’s important to look at several different variables. Don’t select the first plan you come across without making sure that it is the most favorable option for you.

  1. Strength of Disability Insurance Company – Be sure to select a solid insurer that’s likely to be around if and when you need to file a claim.
  2. Favorable Definition of Disability – Select a policy that includes an “own occupation” definition of disability. If you work in a particular specialty within your field, be sure that’s specified within the definition.
  3. Residual Disability Rider – Verify that the disability insurance plans you are considering include a provision for paying benefits if you experience a partial disability. It’s best to select one that doesn’t require loss of time and duties and that pays benefits based on loss of income.