We all buy insurance to protect our assets, businesses, homes and vehicles. Many people forget to insure one very important asset, the ability to work and earn a living. At Lewis Insurance Associates we will work with you to ensure you are covered if you become hurt or sick.
The right coverage for you is unique – contact Lewis Insurance Associates today and find out how to protect your family and your future with the right disability insurance.
Disability
During your lifetime, you are much more likely to be disabled then to die. Disability insuarance is the only way to protect your income if you become disabled.
To protect your family call us today, 540-659-2121.
Is Disability Insurance right for me?
If you are disabled due to an accident or illness, it can quickly become hard to keep up with daily activities not to mention maintaining your standard of living. Purchasing a disability policy would help provide financial security for you, your family, or your business. It can be used to pay your mortgage, your car payments, household bills, cover daily living expenses, medical bills, etc. Work with Lewis Insurance Associates to determine what type of policy would best fit your situation.
- According to the National Treasury Employees Union, a disabling accident occurs every second in the United States.
- 90% of disabling accidents and illnesses are not work related.
- The National Safety Council reports 43% of people age 40-65 will suffer from some form of disability lasting no less than 90 days.
- 48% of families do not save any of their annual income according to a 2010 survey by the U.S. Federal Reserve Board.
- In Virginia 36% of people with a disability are employed according to a 2012 ACS
- 2013 CDA Long Term Disability Claims Review advises the leading causes of 2012 new claims were:
- Musculoskeletal/connective tissue disorders (neck, back pain)
- Cancer
- Injuries and poisoning
- Mental disorders
- Cardiovascular/circulatory disorders
What Coverages do I need?
Disability insurance can be purchased on a short term or long term basis with coverage limits proportional to your income level. It can be tailored to suit your personal or business needs. Some features to look for include:
- Clear definitions of disability (own occupation vs. any occupation)
- Amount of benefits Elimination period (the waiting period before benefits begin)
- Benefits for partial disability
- Provisions for replacement of lost income
- Return-to-work programs
- Recurrent (relapse) provisions
- Cost-of-living adjustments (or the right to purchase additional coverage)
- Mental health/substance abuse provisions
- Non-cancellable or guaranteed renewable options
- Exclusions of limits on coverage