Get the right disability insurance at the right price.

If you’re looking for a way to protect yourself against the unexpected misfortunes which life can throw your way, disability insurance is something you may want to look into.

You probably already have life insurance and health insurance, but disability insurance covers something different than these other types of insurance coverage – your income.

If you were to become disabled for an extended period of time due to a serious injury or illness, your other policies wouldn’t provide for your living expenses; but this is exactly what disability insurance is for.

If you’re wondering if you can afford long term disability insurance rates, you may first want to ask yourself if you can really afford to be without this kind of insurance coverage if the unthinkable should occur.

Different long term disability insurance policies provide benefits for different lengths of time. The most common of these are two, five or ten year benefit periods; but there are also policies which provide a benefit until you turn sixty five years of age. However, two year benefit policies are by far the most prevalent.

While this is enough time to recover from many injuries or illnesses, there is no guarantee that you will be able to get back to work within this time frame, so you might want to look for a policy which provides you with the longest benefit period as possible at long term disability insurance rates which you can afford. If you need to replace your income for long enough to repay, for instance, a thirty year mortgage, then a long term disability insurance policy which only provides a two year benefit period just isn’t enough to support you if you’re too seriously ill or injured to return to work during this time.

There is a lot of variation in long term disability insurance rates, so even if you think that you might be unable to afford more than a policy with a two year benefit period, you may be able to find something which provides more coverage by shopping around. Think of it this way: if you lost your ability to work for just one year, you could probably find a way to make ends meet for at least this limited time. However, if you became unable to work for five years, ten years or longer, then you would need the protection of a long term disability insurance policy.

You also need to think about how long you’ll have to wait before you can start seeing payments from your disability insurance policy. This period is known as the elimination period and ideally, you’ll want to find a policy with as short of a waiting period as you can afford. Your long term disability insurance rates will partially depend on this – and with some careful shopping, you should be able to find coverage which can replace your income if you can no longer work and that is a good fit for your budget.

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