When serious illness or injury strikes, you may not be able to work. However, having disability insurance protects you in this case, as it replaces your income for a short- or long-term basis. The below guide provides essential information on disability policies so you can make the best decision.

Frequently Asked Questions About Disability Insurance

When is the best time to purchase a disability policy?

Your age and state of health are significant factors when determining insurance costs. For this reason, you should buy disability insurance while you’re young and relatively healthy. Doing so allows you to lock in the lowest possible price.

How is disability defined?

The definition of disability varies considerably from company to company. In general, any health issue or condition that prevents you from holding gainful employment may be considered disabling. Whether you can support yourself through other types of work will also be considered.

Are there different policies available?

Short-term coverage is available for disabling conditions or injuries that are only expected to last a finite period. Short-term disability coverage generally spans from three months to six months. With long-term coverage, you may receive assistance for several years or until you can receive Social Security benefits. 

How much disability insurance do I need?

Insurance agents recommend that you replace at least 70% of your income when purchasing disability insurance. If you currently receive insurance through an employer, consider purchasing an individual policy to ensure sufficient coverage.

Finding the right insurance company to provide disability coverage offers peace of mind. Located in Somerset, KY, Toohey Insurance Service provides customizable health insurance products to the community. With an A+ rating from the Better Business Bureau®, you can rest assured of quality service. Along with disability coverage, they also offer health, life, Medicare supplement, and final expense insurance. Learn more about your coverage options online or call (606) 678-0540 to schedule a consultation with an insurance agent.