What Is Disability Insurance?

Disability insurance simply provides a predetermined income to the policyholder if they are no longer able to work due to an accident or illness. Some employers provide group disability insurance for their employees. If you have group disability insurance it can come in two different types. You can have group short term disability insurance and long term disability insurance.

Disability insurance can also be purchased individually yet most people don’t even consider purchasing disability insurance in Ohio despite the fact that a person’s chances of being disabled 90 days or more prior to age 65 is greater than a person’s chance of death! The 2004 Field guide from the National Underwriter states that at age 40, your chances of becoming disabled for 90 days or more prior to age 65 is 43%.

If You Become Disabled How Will You Pay Your Bills?

In the event you developed an illness or an accident caused you not to be able to earn employment income for six months, how would you pay your bills? That’s where disability insurance comes in. Disability insurance can provide you the necessary income that you need to financially survive.

Prior to the current real estate crisis, the number one reason why someone would lose their home is due to a disability!

Can You Purchase Disability Insurance to Cover a Pre-Existing Illness That Could Lead to a Disability?

The likely answer is no as disability insurance is fully underwritten by an insurance company, but just to make sure contact our office to discuss your disability insurance needs. Our office number is 513-662-7000 or you can send an e-mail to Jack@pathwayinsurance.net

In a future article we will discuss the various types of disability insurance policies available in Ohio, Kentucky, and Indiana.

Want to Find the Best Disability Insurance in Cincinnati? Call Pathway Insurance at 513-662-7000