Disability Insurance

Disability Insurance is:

• a type of insurance that pays some of a person's income when they are disabled from an illness or injury and cannot work

• a type of insurance that helps cover a portion of medical costs, injuries, and specialist visits

• a type of health insurance that covers a variety of life-threatening illnesses

• a type of insurance that pays out a sum of money either on the death of the insured person or after a set period

Why is disability insurance necessary?

• It's not! Health insurance is a better route to take

• It gives you money back if you are injured at work so that the company is held accountable

• It is an important part of health insurance that helps your loved ones care for you if you are severely injured

• It helps to cover essential expenses such as food, tuition, utilities, and mortgage in the event that you are injured and cannot work

The ideal plan should enable you to:

• pay your day-to-day expenses while recovering

• become rich

• be successful in life

When should people consider disability insurance?

• When they get married

• When they graduate from college

• When they start a full-time job

• When they retire

Most disability insurance will replace:

• 80% - 100% of your income

• 60% - 80% of your income

• 40% - 60% of your income

• 20% - 40% of your income

A computer technician is in an accident on his way home from work and breaks both wrists.

Which of his insurance plans will provide him with income while he is out of work recovering for six weeks?

• Short-term Disability Insurance

• Long-term Disability Insurance

• Workers' Compensation

• Health Insurance

A young woman falls on the ice, hurts her back, needs surgery, and will be out of work for three months.

What does she need to do to claim the disability insurance she has through her employer?

• Inform her employer only

• Call her doctor and ask him to send her employer a note

• Contact her health insurance company

• Inform her employer and see her doctor to have the doctor confirm that she is not able to work

Disability Insurance can cover you until what age?

• 45

• 55

• 65

• 75

Who needs Disability Insurance?

• Only people who are already disabled

• Sick or injured for an extended period of time

• People who work in jobs that require life-threatening tasks

• People who are unemployed

How much does disability insurance cost?

• It costs roughly 6k a year

• Every person has a different estimate depending on their job, their income, how often you are home, height, and more

• Everyone pays a down-payment of $400 as a base cost and then it depends on their job

• Disability insurance is free as long as you submit an application with a doctor's note