Almost every materialistic thing that one has, or hopes to have in future, depends on one’s ability to work and earn money. There are only two things which hamper a person’s ability to work - disability and death. While almost every person plans ahead and provides for his or her family after death, disability is, sadly, often a neglected aspect. One of the biggest fallacies that people have is that disability doesn’t happen to younger people. However, according research, a person is three times more likely to suffer a disability before the age of 65, than he or she is to die. Women stand a higher risk of disability at 54% than men, who are likely to suffer a disability 43% of times. One thing that an individual needs to keep in mind is that, even if he or she has to take a sabbatical from work due to disability, bills still have to be paid and mortgage payments are inevitable. These in addition to the extra burden of disability related medical expenses. It is estimated that the main cause of foreclosures in the United States is injury or illness leading to disability, preventing an individual from being gainfully employed.
Devastating consequences of disability being well understood, it is important to know how one can secure himself against this uncertainty. Similar to the way one can secure the consequences of death through life insurance or property loss through property insurance, there is a disability insurance to provide for the consequences of disability. In the event of a disability, an individual can draw from the corpus fund created by the contribution of premiums by all disability insurance holders. By investing in such a corpus fund, one can be more assured of their future and avoid unpleasant consequences.
Disability insurance can be classified into two types; short term disability coverage and long term disability insurance. In most cases, short term disability coverage refers to nothing more than a certain number of sick days for which one gets paid. In short term disability, there is an assumption that the individual can return back to work after a certain period of time. Long Term disability coverage is a type of insurance which one has to purchase individually. Long term disability insurance helps by providing a portion of an individual’s income until he or she can qualify for social security disability or reaches the age of 65. Premiums for long term disability insurance can vary widely and depend on two primary factors; the percentage of income an individual needs, and danger rating of his or her job.
The Guardian Life Insurance Company of America is a Fortune 300 company and one of the largest life insurance companies in the United States. Guardian offers a wide range of plans for long term disability for all occupational classes. It offers recovery benefits for the entire benefit period through a residual rider. Guardian has a solid background, having been in the industry for over a hundred years. Guardian is the number one non-cancellable disability insurance company in the industry.
Guardian Disability Insurance Brokerage is a general agency of Guardian. On their website (disabilityquotes.com) one can request an online quote for disability insurance by answering a few simple questions. The website also lists some basic features which should be a part of any Disability Income Insurance Policy. Now, leading a life of comfort and dignity is in your hands.