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How To Pick The Right Disability Insurance

By Jason Markum

Insurance insurance insurance that’s all anybody ever talks about these days! But there’s a reason why people talk about insurance so much, and it’s because it is so important to so many different parts of all of our lives. I wish it wasn’t so important because it bores me to tears to think about it, let alone talk about it but here I am writing an article all about insurance for you today anyway!

Why? Well hopefully I can explain it in a way that doesn’t bore you to tears and is helpful to you.

Disability insurance is incredibly important and it’s something that most people don’t give a second thought to let alone purchase. “I will never get disabled – not me!”, that’s what everybody thinks… the fact of the matter is, I’ve seen statistics that show that on average by the age of 37 a person is 3 1/2 times more likely to get disabled than they are to die. This continues to be the case until you hit the age of 68 when it switches and suddenly you become more likely to die than become disabled but we don’t need to talk about that!

The thing about it is, our medical industry is becoming better and better at saving people’s lives. This gives people a false sense of security because they don’t consider the fact that even though their life has been saved they may be disabled for many years to come and possibly forever.

This becomes especially important if you do any kind of manual labor job, or even any job that requires physical activity of any kind because if you become disabled you may not be able to perform your job function anymore. And what do you do for money then?

This is why disability insurance is so vitally important. It’s not enough to get car insurance because that car wreck could disable you. It’s not enough to get health insurance because it will cover hospital bills but it won’t help you if you become disabled to pay your house payment and other bills. It’s not enough to get liability insurance to cover the financial stability of your family because you may not die but merely become disabled in which case you still have to support them. No, all these things require that you also have disability insurance.

So how do you pick the right disability insurance? First off look for one that is non-cancelable by the company that issues it. Make sure it’s cancelable by you, just not by them! Next make sure that it’s guaranteed continuable until the age of 65 at least. 70 to 75 years old is even better.

Next make sure that there are no restrictive riders when your policy is issued. What you want in a disability insurance is to have the broadest coverage that you can get to cover as many different areas as possible.

Next make sure that your premium cost doesn’t increase before you reach the age of 65. That is to say, make sure there is no cost increase and that this is guaranteed in writing.

These are some of the more common things that you need to look for in a disability insurance. There are many other things that you could look for, but these main things will set you in good stead and send you firmly down the path to finding a good disability insurance.

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