Disability Insurance Without Health Questions or Occupation Questions or History

Disability Insurance Without Health Questions or Occupation Questions or History

Why Consider Disability Insurance?

Many Americans assume that they do not need disability insurance. They believe that they can simply file for a government program like social security if something happens to them. However, it is not always easy to qualify for social security as a disabled person, and the government imposes a waiting period. Besides the cash amount of social security payments would not be high, and would be doubtful to match your current earning strength, or already be enough to pay your current bills. Unless you would like to persevere a emotional change in lifestyle, you would be well advised to consider a private disability insurance policy.

Finding Disability Insurance Can Be Tough

It can be hard to find an individual disability insurance policy, or an insurance agent who is experienced in writing them. Once you find a company who will write disability insurance, you may find that they will disqualify you because of a past health history. They may already disqualify you, or offer you high rates because of your occupation. If you have ever been convicted of a serious crime, already if it was years ago and you have lived a clean life for years, you may also be refused insurance.

Some Companies Only Attach Disability Insurance to a Large Life Insurance Policy

Many agents, especially those who sell mortgage life insurance, will only sell disability as a percentage of the confront value of a term life insurance policy. However, if you already have life insurance, you may not want to buy this sort of protection. I think it is important for you to be able to buy the kind of protection that is important to you.

New Disability Plans are Meeting Consumer Needs

A new kind of disability insurance has emerged to meet consumer needs. Instead of asking health questions, this income protection uses a short waiting period to qualify individuals. The same affordable and comprehensive policy also pays out cash for involuntary unemployment and hospital stays. In other words, your coverage will protect you when you most need the additional money.

You can use this income protection insurance to cover your mortgage, keep groceries on the table, and pay bills. The benefits should tide you over until you can return to work or qualify for government disability. To use the unemployment assistance, you must qualify for government unemployment insurance. Since your state unemployment assistance is usually only enough to buy groceries, the additional cash will certainly be useful.

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