When buying Disability Insurance, you should be sure to get a policy that pays if you are unable to perform your own occupation. Otherwise, your policy will not pay the benefit unless you are unable to do work of any kind.
If you are moving up in your career, purchase the option to add increased benefits without having to qualify again medically in the future.
There will be concessions to be made, so look at what is most important to you and keep those features in your policy and cut others. E.g. If you only have 1 month of income in savings, you might want to choose a 1 month elimination period and cut corners somewhere else.
Agent Owner, Gilmore Insurance Services, Marysville, Washington State
What to know when buying disability insurance? First and foremost find and read aloud the definition of disability. What has to happen to meet the requirement for the policy to pay you? No matter what a policy might offer numbers wise, it is the definitions that determine if you get paid or not.
.JPG){kind=avatar}
If you are moving up in your career, purchase the option to add increased benefits without having to qualify again medically in the future.
There will be concessions to be made, so look at what is most important to you and keep those features in your policy and cut others. E.g. If you only have 1 month of income in savings, you might want to choose a 1 month elimination period and cut corners somewhere else.