Disability insurance mainly consists of long-term and short-term coverage. If you can’t work for at least 90 days, the long-term coverage gives you part of your income. Short-term usually covers you if you can’t work for a few days due to a serious illness or injury. If the condition deters you from normal activities, you can also purchase medical insurance to cover a certain percentage of your medical bills. Other types of disability insurance include parent/family leave, critical illness, and accidental disability. A. L. Saland Insurance Solutions Inc serving in Florida can help.

What to Know About Disability Insurance 

Whether private or government insurance, each comes with its benefits and drawbacks. After that waiting period, you will receive a set amount of money each month, depending on your policy. Government disability comes with no waiting period, but you will only receive a set amount of money. The common types of disability cover include: 

• Short-term disability insurance
• Long-term disability insurance
• State disability insurance
• Workers’ compensation
• Disability overhead expense insurance
• Mortgage disability insurance
• Supplemental disability insurance
• Social Security disability insurance

Short-term disability will typically provide 40% and 60% of your income if you cannot work for between 7 and 12 months. Long-term disability can kick in after a specified period or if you have exhausted your short-term benefits. Long-term disability will typically offer 40% and 60% of your income if you cannot work for more than 12 months. 

Critical illness insurance can help you cover treatment costs for serious illnesses, such as cancer. Disability insurance can be taken out as a single policy or in combination with other types of insurance. You can package it as an employee benefit or separately. This insurance comes in several different types, but the main goal is to cover your financial needs whenever you can’t work. 

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Whether private or governmental, you should understand each type before making a purchase. Private disability insurance is typically purchased through an insurance carrier and is most often used to protect a company’s profits rather than an individual’s income. For expert advice, give us a call at A. L. Saland Insurance Solutions Inc in Florida.

You have a home, health, and auto insurance policy; why would you need disability insurance? Disability insurance provides crucial financial protection, but many Americans don’t understand it. For this reason, A. L. Saland Insurance Solutions Inc. is answering commonly asked questions about disability insurance. 

What’s disability insurance?

This coverage covers a portion of your income when injuries or sicknesses prevent you from returning to your work for an extended period. This coverage is crucial for working Americans because it means you don’t lose all of your income when you miss work due to health concerns. 

Do I really need disability insurance?

Most people think that disability insurance is for the critically ill. This notion is half true. While severe diseases like cancer and heart disease may keep you from work, common injuries like fractures and less severe but chronic conditions like back and hip problems can make you miss work. Statistics by the U.S. Social Security Administration shows that at least 25% of Americans aged 20 today are likely to miss work for about one year because of a disabling condition! 

If you think that disability insurance isn’t necessary, can you afford to miss your paycheck for months and live normally? If you don’t have adequate savings or a robust support system when not working, disability insurance should be your friend.

Does disability insurance cover all disabilities?

Each plan has its terms and conditions. However, typical disability insurance won’t cover the below:

• A disability following a riot
• Intentional injuries
• War
• Injuries suffered during incarceration
• Pre-existing conditions

The above list is just a guide. Be sure to check your policy document to know exactly what isn’t covered.

Can I work part-time and get disability insurance benefits?

It depends on your policy, but most allow policyholders to work part-time. However, during this time, you will subtract what you are earning from the benefit.

Where can I buy disability insurance in Florida?

Would you like to secure your income with disability insurance? Contact A. L. Saland Insurance Solutions Inc., serving numerous locations in Florida, for an affordable quote.