Disability Insurance in Brevard County, Florida
In a nutshell, disability
insurance is an insurance policy that pays benefits in the event that the
policyholder becomes incapable of working. It is also known as total or
partial income replacement insurance.
More specifically, disability
insurance is an insurance contract wherein an insurer undertakes to pay
money (usually a proportion of the insured's most recent income) or some
other benefits (such as retraining costs) in the event that the insured
becomes disabled or unable to engage in his/her occupation as a result
of bodily injury, disease or mental disorder.
Insurance contracts, also
known as policies, differ from insurer to insurer, nowhere more so than
with disability insurance. The distinctions are numerous: types of disability
covered, proportion of pay covered, period or duration of coverage, evolution
of a temporary to a permanent disability, and the various definitions such
as "total disability".
Generally, there are three
main components of individual disability policies:
We can offer answers and solutions
to many of the questions you may have. Like...When Am I Considered Disabled?
When Will Benefits Start? How Long Will Benefits Be Paid? How
Much Disability Income Insurance Do I Need?
Degree of disability - usually
stated as a percentage, and can include partial and full disability in
the same policy
Waiting or elimination period
- the time between first day of disability and when policy is activated,
usually 30, 60 or 90 days as a standard
Maximum payment period - amount
of money paid every week or month until benefits expired. For example
5 year benefit, 10 year benefit or pay to age 65.
Give us a call soon.
Accidents can happen anytime and anywhere...be ready.