Anchor Insurance Provides Disability Assistance
If you are unable to work due to an injury or illness, you may have concerns about how you will pay the bills. Anchor Insurance wants to help you quell those fears by providing disability insurance. Our knowledgeable agents have helped clients throughout the U.S. make ends meet despite devastating medical circumstances. We will meet with you to discuss your options and customize a plan that enables you to pay your mortgage and keep food on the table. Call us today to learn more.
What Is Disability Insurance?
Disability insurance is a form of protection for workers who suffer injuries or illnesses that prevent them from maintaining a steady job. Some injuries or illnesses only necessitate short-term disability insurance to help cover expenses until one can return to work, while others are permanent. The agents at Anchor Insurance are experts in each category, so we will help you determine your needs and tailor a policy to ensure you are covered. Disability insurance typically covers between 40% and 70% of your salary when you are temporarily or permanently unable to perform your professional duties.
Understanding Who May Need Disability Insurance
There are no typical circumstances for which people may need disability insurance. In many instances, workplace accidents are the result of unfortunate mistakes. Studies show that roughly a quarter of today’s 20-year-old workers will need disability insurance at some point during their careers, and women are more likely than men to require such assistance. Social security disability benefits are not available to individuals who are expected to return to work within a year, so insurance may be necessary to protect you from economic ruin. During a consultation, our team can help assess your risk and develop an approach to disability insurance that meets your needs and keeps you financially safe.
We Offer Several Forms of Individual Disability Insurance
There are plenty of options available for individuals seeking disability insurance. Let our team of experts review your circumstances and make recommendations regarding the coverage you may need. The most common solo options include:
- Individual Disability Insurance – This will supplement your income if you are unable to work due to illness or injury. However, if you are hurt on the job, it is your employer’s responsibility to provide workers’ compensation.
- Individual Long-Term Disability Insurance – If medical circumstances require you to miss work for years or decades, this insurance can provide as much as 70% of your income. Benefits may not be available for up to 90 days.
- Individual Short-Term Disability Insurance – This type of policy can be used for no longer than 12 months and usually provides 40% to 60% of one’s income. It should begin within 14 days of a claim.
Business owners also have available disability insurance options, such as:
- Group Disability Insurance
- Group Long-Term Disability Insurance
- Group Short-Term Disability Insurance
- Voluntary Disability Insurance