In the years before starting work you went from no income to finally making a large income. Now you can start your family and start purchasing a home, cars etc. But your family’s success, and your net worth is dependent on you continuing to work and stay healthy.
The early years of work, family, homes and net worth growth make every professional vulnerable. Should your health change during this time, how will you continue to live this lifestyle, and what will that cost?
Example: a 42-year-old doctor, after a car accident left him disabled for life. Since the accident he has received over 1.5 million in benefits.
It must be a guaranteed contract, meaning the carrier can not change the premiums nor the benefits.
You can choose the waiting period, that will save some money. The longer the waiting period the lower the premiums.
Example: a 30-day waiting period when compared to the 90-day waiting period, the 90-day period will be about half the price. But with disability coverage the cost will directly affect the quality of the contract.
The wording in today’s disability contracts with all the leading carries is not that different. You want to deal with an agency that will stand with you at claim time because as you suspect no insurance company wants to benefit. Helping health care professionals and other with disability claims for over 25 years.
Accidents and ailments happen, and you know that they usually don’t wait for a convenient time. A sudden major injury or illness can turn into a long-term, and potentially life changing incident. Having disability insurance can protect you and your finances when you are suddenly unable to go back to work.
Working professionals typically try to put away savings for emergencies but those funds don’t always cover the full costs of accidents or illnesses. Sometimes recovery time is more than expected and your emergency funds run dry. Disability insurance can provide income while you cope or recover from your debilitating illness or injury.
To discuss your disability insurance needs call David at 780-433-3900 today or contact us by email.