When You Need Disability Insurance n iPort St. Lucie

by | Jul 20, 2015 | Insurance

Disability insurance is designed to help replace lost income for people who become seriously ill and are no longer able to work. Disability Insurance n iPort St. Lucie can cover a variety of situations including sudden injury, sudden illness, and even long term disability. This type of coverage is sometimes called paycheck protection because it is there to replace a large portion of a paycheck that is no longer coming in each month.

A regular paycheck is the main thing that gives people a feeling of security and stability. When that is suddenly taken away, a person’s entire lifestyle can be at risk. Some people who have become seriously ill or who get badly injured are no longer able to make their house payments, make car payments, buy groceries, or take care of their children properly. Regular income can be thought of as an asset. Losing that asset means that something has to happen to make up for that lost asset, and that is where disability insurance comes in.

Short term disability usually lasts anywhere from 60 days up to 90 days. Long term disability is usually considered to be any period of disability that lasts for longer than 90 days. Some long term disability moves into permanent disability, where the injured or ill individual is never able to return to work. Short term and long term disability insurance typically pay out two different percentages of a person’s income. For example, short term disability might pay 70 percent of lost income, while long term disability might pay 50 percent of lost income.

Neither type of disability is typically paid until an employee has used any paid time off that they have accrued. Usually, there will be a short waiting period for disability insurance payment, so during this period is the ideal time for individuals to use their accrued paid time off at work. In this way, there will be as little income loss as possible for the individual and their family. When looking for Disability Insurance n iPort St. Lucie, consider contacting A Better Solution Insurance Services. They offer an insurance solution that will suit any budget! You can also visit them on Twitter for more information.

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