Disability Insurance

Disability insurance can cast a financial safety net that provides protection against the fiscal impacts of injuries, illnesses, and other health-related uncertainties of life. These policies may come in various forms but generally serve the same purpose of providing financial support to individuals facing unexpected health challenges who cannot maintain their prior employment status. 

How Does Disability Insurance Work?

Disability insurance operates on the premise of income protection in the event of a disabling injury or illness. Short-term disability insurance typically covers a temporary inability to work due to medical conditions like injuries, surgeries or illnesses, offering a percentage of the insured person’s salary for a limited duration. On the other hand, long-term disability insurance may kick in after short-term disability coverage ends. Long-term disability coverage may apply when an individual cannot work for an extended period, often beyond 90 days, and can provide financial support for years to come.  

Both short- and long-term coverages may include customizable options and benefit amounts, allowing individuals to tailor their plans to meet specific needs. A person’s disability insurance cost can vary based on many factors, such as age, health status, occupation and policy specifics. Individuals should carefully assess their needs and budget constraints when exploring their options to ensure comprehensive coverage without unnecessary expenditures. 

Who Qualifies as a Person With Disability (PWD)?

 Determining eligibility for a payout from disability insurance involves assessing the severity of a person’s disability and its impact on their ability to work. Insurance providers typically consider factors like medical documentation, treatment plans and professional opinions to evaluate the validity of a disability claim and identify who qualifies as a PWD. Chronic illnesses, permanent disabilities and conditions preventing an individual from performing essential job functions are often recognized as qualifying criteria.

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 With a history of service dating back to 1910, Gerhart, Hartman & Ritner is more than capable of helping you understand and secure appropriate disability insurance. Contact us today to learn more.