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Vistaplan Blog

Read the Vistaplan Financial Group blog: Universal Life Insurance, Term Insurance, Disability Insurance, Critical Illness Insurance, Super Visa Insurance.

Posted: 26 Jul '11

How to Choose a Good Disability Contract

How to Choose a Good Disability Contract

Most companies have 3 or 4 different disability insurance policies that they offer.  The occupation you are in will determine the type of disability contract you are eligible to get.  It all really comes down to risk.  The more risk in your occupation the higher your premium and the fewer benefits you can get.

Some of the occupations that insurance companies consider to be a higher risk include welders, sheet meet worker, packing or shipping clerk, power shovel operators.

On the other hand occupations that insurance companies offer more benefits to and consider these occupations to have less risk in them are doctors, accountants, manufacturing representatives, heating and air conditioning sales, office duties only, etc.

So when you’re looking for a good disability insurance contract you are looking for the best contract that can be issued to people in your occupation.  Always tell the agent what your occupation is and what you do in that occupation. This will determine your occupation class and from there you can start to look at the benefits you are eligible to receive.

Disability insurance is much more complicated than life insurance, so take some time learn what you are getting for your premiums, read the policy and understand how to collect before you get sick or injured. You don’t want to get sick only to find out that what you thought you were covered for is much different than the insurance companies plans to pay you for.

With disability insurance you will get what you pay for.  The cheapest plan likely has the least and poorest benefits.  Since this is your most important insurance, the protection of your income, take the time it will be well worth your while.

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