Disability Insurance

A disability policy is a type of insurance product that provides income if the policyholder is unable to work and earning an income due to a disability. Individuals can purchase a disability policy from private insurance companies with a variety of designs and riders. These policies will protect against a specific loss, such as when a property and casualty insurance plan reimburse the policyholder for the value of stolen property. However, in the case of a disability policy, this compensation relates to the lost income caused by a disability. As with all types of insurance policies, disability plans will have more expensive premiums if their terms and conditions of the policy are more favorable to the policyholder. Inversely, policies with less generous terms will often carry lower premiums. Some of the important features that affect premiums in a disability insurance plans include the length of the called “elimination period”, which is the length of time that the policyholder must wait after becoming disabled before he or she can begin receiving benefits; “the benefit period”, which is how long those benefits continue to be paid; and how strict the definition of “disability” is under the policy terms and conditions. At Panel Development Partners agency, we specialize in disability case designs with direct access to the most stable insurance carriers in the United States. Contact us today at help@wearepdp.com for a comprehensive disability quote.