Agent Owner, Gilmore Insurance Services, Marysville, Washington State
Can you buy disability insurance? It's actually going to depend. Disability Insurance is offered in different forms with different benefits and payouts depending on the occupation. So depending on your occupation, you may be able to purchase disability.
Now for the really hard part, qualifiying for a disability plan. Underwriting is extremely tough for disability coverage, especially for good coverage. If you're healthy and are thinking about DI, don't wait till your first accident or illness to try and purchase.
Social Media Strategist, Disability Insurance Services, California
Please note that disability insurance underwriting is not the same as it once was. Most carriers now offer simplified underwriting, meaning a client under a certain age (usually 50) can apply for DI without having to submit financials or a paramedical exam. They might still request medical records, but that's only if substantial medical history is listed on an application. Also, don't forget that occupations that are difficult to place can more often than not be placed through Lloyds of London or Fidelity.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
If you are working most likely you can buy income disability insurance. Depending on your health it may be more or less costly. And if you have health or injury conditions currently, those may be completely excluded or excluded from coverage for a period of time. There are a number of factors that play into what you will have to pay for insurance and what may be excluded from coverage, so be sure to ask the relevant questions when you are applying.
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Now for the really hard part, qualifiying for a disability plan. Underwriting is extremely tough for disability coverage, especially for good coverage. If you're healthy and are thinking about DI, don't wait till your first accident or illness to try and purchase.