A disease, accident, or illness can strike at any moment—and usually without any warning. For this reason, it’s important to secure your and your family’s future by preventing the loss of income due to a short or long-term disability. You can do this with disability insurance. Here’s more on what disability insurance is and why you should consider signing up for this type of insurance policy.
What is Disability Insurance?
Disability insurance is a type of insurance policy which helps to secure your income when you are unable to work due to injury or disease. A disability insurance policy is essentially a safety net. It enables you to maintain your living standards as it pays your medical bills when you are going through a recovery process.
Who Should Consider Disability Insurance?
Commonly, these types of insurance policies are recommended for everyone, regardless of a person’s line of work or family situation. That said, there are certain individuals who will benefit more from this type of insurance. For example, anyone who works in a risky job environment where they could get injured on the job should definitely have disability insurance. In addition, anyone who has major responsibilities at home such as a mortgage payment or dependents should also seriously consider looking into disability insurance.
What are the Types of Disability Insurance?
There are two types of private disability insurance policies:
- Short-Term Disability Insurance commonly covers policy holders for up to 6 months.
- Long-Term Disability Insurance commonly covers policy holders for their whole lifetime, if needed.
Note that several Maryland disability insurance policy providers will offer additional disability insurance benefits such as guaranteed renewal or living cost adjustments.
How can I Get Disability Insurance?
To get a disability insurance plan, first see what types of policies your current employer offers. Then, once you have all the pertinent information, it’s best to contact a local Maryland insurance broker to compare disability insurance policies. What is nice about an insurance broker is they will compare a wide-variety of disability insurance policy offerings from multiple companies and help you figure out your best option; even if it’s with your current company and not the broker.
Who is Freedom Insurance Agency?
Freedom Insurance Agency is a local Maryland insurance agency serving clients in Eldersburg, Westminster, Mount Airy, Carroll County, Ellicott City, Columbia, Howard County, and surrounding areas. We specialize in getting you the best possible insurance coverage for your needs and your budget. For more information, give us a call today at 410-795-2000 or fill out the form on our website for a free quote, today!