Disability Insurance (Individual)

Get a Quote

Disability Insurance (Individual)

Although it may seem unlikely, an unanticipated disability can impact anyone at some point in their life. According to the Social Security Administration, "a 20 year old today has a one in four chance of becoming disabled prior to retirement." Plan for the unexpected. Learn more about disability coverage options today.

Disability insurance (Individual)

Individual Disability insurance provides financial protection should you experience an illness or accident that prevents you from working. There are various options you may consider that cover a portion of lost salary in the event you experience a disability. The policy also 'stays with you' should you change jobs or careers.

As an independent insurance agency, Emmanuel Insurance represents several top-rated insurance companies, which allows us the flexibility to find you the right coverage that fits your needs and budget.

What are the different types of Disability Insurance?

Although this list is not exhaustive, it provides some common types of Disability insurance policies and an overview of each.

Individual Disability Insurance: If you are self-employed or don't have coverage elsewhere, individual disability insurance is important coverage to consider. This policy provides individual income protection should you experience an illness or accident that prevents you from working. There are a variety of options that may be tailored to meet your specific needs. If a disability impacts your ability to work, you may receive a monthly benefit which might be a set amount or a percentage of salary. A lot of plans also offer a partial benefit if you are only able to perform certain aspects of the job but not the entire job. Factors that may impact the cost of this coverage include areas such as health, working conditions, and coverage offered. The policy is portable and benefits are typically tax-free.

Supplemental Disability Insurance: Individual policies may also be used to supplement group disability policy coverage that you may receive from your employer. This allows you to increase your coverage and add extra protection for a greater percentage of your income.

Business Protection: There are other specialty coverages that are available to business owners, etc.

• Business Overhead Coverage - This covers various types of overhead expenses to keep a business open if, for example, the owner experiences a disability. It covers things like staff salaries, rent/utilities, telephone, etc. so the business can continue without interruption.
• Disability Buy-Out Coverage - This coverage helps fund a buy-sell agreement that might be triggered by a situation in which a business owner or shareholder experiences total disability. Payments may be made monthly or in a lump sum (or some combination of both).
• Key Person Disability - This coverage helps reimburse the business by helping to fund the transition/training of a successor or a temporary replacement in the event a key person experiences a disability.

Download our helpful guide to Disability Insurance

Do you have questions about Disability Insurance (Individual)?

Contact an insurance agent at Emmanuel Insurance today to answer any questions about Disability Insurance (Individual) or for a free review and insurance quote for Disability Insurance (Individual). And don't forget, as an independent insurance agency, we represent several top rated insurance companies. We have the flexibility to help you find coverage at competitive premiums for business, home, auto, and more.