It is a very difficult matter to handle, but no one wants to talk about disability, rather taking up an insurance policy for it. However, it is always better to be safe than sorry, that’s applying for this type of insurance is important. You might be thinking that you already have an insurance policy, why would you need extra; well, while general life insurance does cover a lot of aspects when it comes to health issues, it may or may not cover certain disabilities where you might not be able to go to the office for a certain period. This is where disability insurance can help you.

With this type of policy in place, disability insurance can cover 60-85% of your income and it would be completely tax-free. This can help you and your family avert any financial crisis when you are not able to work. If you’re wondering how much it would cost, you are reading the right blog post. Read on to find out how you can afford disability insurance without thinking about any type of financial problems. You can also get in touch with Harpreet Puri, she can provide you with further details.

So, how much does the policy cost?

There are many factors that come into play when we are talking about disability insurance. Factors such as your age, annual income, type of employment and health condition. The cost of the policy is based on a risk to reward ratio. Generally, whether it’s long or short-term disability insurance, it costs around 1-3% of your annual income. For example, if your annual income is $100,000, the cost would be around $1000 to $3000.

This is a typical cost for a 45-year-old person with minimal job-related health risks. If you are working in a high-risk job such as a construction worker or a pilot, the premium can be as much as 15%. ON the other side if you are working at a desk job, it can be as less as 1%. The premium rates are determined by your personal health background. That’s why it’s advisable., that the best time to apply for this type of insurance is as early as possible when you are in good health. Also, you will have to remember, that you cannot claim disability insurance for any non-work-related accident. If you have any queries, feel free to get in touch with Harpreet Puri.

 When you claim for long-term disability insurance, you get around 65% of your income. With a short-term claim, you can receive up to 80%. For more information, just schedule an appointment with Harpreet Puri.