Florida Disability Insurance (DI)

Disability insurance complements health insurance and can replace a portion of your lost income. Statistics show that 43 percent of all people over the age of 40 will have a long term (lasting 90 days or longer) disability before the age of 65.

A major misconception about DI is that it just covers injury, it also covers an illness, that can leave you unable to work for long periods of time, such as cancer.

There are several types of disability insurance (DI) a person can have such as long term, short term, group long term or group short term. For the most part, group is provided through an employer or an association, and you may be eligible for both types of coverage. Individuals are able to obtain long term and short term directly from an insurance agency.

The biggest decision which individuals face is which type of disability policy is best for them:

A short term policy will usually have between a 0 to 30 day elimination period (the time you must wait before benefits begins) and between 6 months to 1 year of paid benefits. This means that benefits will begin after the elimination period is met and payable for the term of the policy for an injury or an illness. Short term coverage can pay the benefits during the waiting period for a long term policy to begin. Short term DI is best described as paying for minor injures or sicknesses, but not something major.

Long term DI policies are usually designed to begin paying benefits after 30, 60, 90, 180 or even 365 days (the longer the elimination period the less the policy will cost you) and will pay benefits for periods from 2 years 5 years, or until age 65 depending on the period of protection that has been chosen. Long term disability insurance is the type of coverage that can truly save a person from facing complete financial ruin.

Both a short term and a long term policy or a combination of the two can be customized to fit your situation and budget. So considering the importance of a DI policy for your financial well being it is important to talk with an expert that can design the right plan for you such as Florida Affordable Insurance. Don't put off having the protection you need because you thought you couldn't afford the coverage. Call today or take a minute to fill out the form on the left side of the page and an agent will get back to you shortly.

• Disability Insurance Individual
• Disability Insurance Group