Disability Insurance in South Florida

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Disability insurance is a policy put in place to provide income for an insured person in case he or she is no longer able to engage in normal activities to generate income due to illness or an accident. The policy may be designed to cater to the insured person all through the period he/she is disabled or to pay an agreed fixed amount for a specified period of time.

While no one wishes to experience disability, it is an incident that could happen to anyone without prior notice, thus making it an arduous condition for those involved especially if they have no palliative measures in place to cushion the effect.

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Do I Need a Long Term Disability Insurance Policy?

Long Term Disability insurance policies are important due to the fact that they help you plan ahead in case of unforeseen circumstances that may happen down the road. Having a disability insurance policy will play a vital role in saving you from potential distress having to do with settling bills for your medical treatments. This route allows you to be supported through your disability without having to worry about how you are going to get by.

It is very easy to neglect a precautionary measure like disability insurance, especially when you are healthy and can still go out on a daily basis to provide for yourself and your family. However, wisdom demands that we sometimes take a moment to ask ourselves crucial questions such as “what would happen if I could no longer work for money due to disability?”

The fact of the matter is long term disability policies can cover you typically up to the age of 65 years of age to 70 years of age. Different insurance companies offer different types of plans with features and benefits to safeguard your income in case of a disability. Keep in mind if you ever become sick, hurt or disabled, depending on the severity, who knows when or if you’ll ever recover from certain health issues.

Again, the probability of being absent from your regular work due to an unforeseen injury may sound far-off, particularly if you’re healthy. However, you consider the possibility of having a disability and having that impact your life negatively. Life is full of uncertainties and, as such, your future should be planned in that direction.

Did you know that there is a higher tendency for someone to become disabled than to die early before reaching the age of 50? This finding might trouble you if you’re reading this and you don’t currently have a disability insurance plan. However, the good news is that it is never too late– you can make the decision today to protect yourself and your family.

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How Does Disability Insurance Work in South Florida?

Disability insurance in South Florida is geared toward helping people alleviate the challenges associated with disability by making sure everyone is well protected from loss of income due to disabilities.

Generally, there are two types of disability insurance coverage in South Florida: long-term and short-term coverage.

The long-term coverage usually pays the insured a regular income all through the time he or she remains disabled. On the other hand, short-term insurance, as the name implies, only covers the insured for a specified period of time.

The state law may involve explicit provisions for group disability coverage sold by insurers in Florida. For instance, employers in Florida may offer to pay this kind of insurance plan, but they aren’t compelled to do so if it is not a part of their employment policy.

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Almost 5 million people suffer from a disability one way or the other in Florida. This means that over about 23.5% of the whole population of Florida.

Disability isn’t limited to just accidents, it can also come about through illnesses that leave someone with permanent and life-threatening effects, or through other unforeseen circumstances. While these scary statistics may be sobering, it’s not enough to just think and forget about it, you need to take action and get yourself protected by getting a disability insurance policy that works for you



What Should I Look for When Buying Disability Insurance in South Florida?

The following are some of the things to consider when shopping around for disability insurance policy in South Florida:

Disability Definition of an Insurance Policy

While it’s good to have a disability insurance plan in place, it’s imperative to define the kind of disability insurance policy clearly. Some disability insurance policies pay benefits only if you’re incapable of carrying out any job appropriate for your experience or education due to a disability.

Check Riders

Disability insurance riders are the add-on benefits that are attached to the main policy. Some of these riders are non-cancelable, partial or residual disability, future purchase, retirement protection, student loan protection, or own-occupation riders. They serve different purposes and may be appropriate for your policy depending on your situation.

Benefit Time

Benefit time is the period in which you’ll receive monthly payments throughout the lifetime of your policy. It is more cost-effective if you are young and buy the lifetime plan.

Benefits Transition

This kind of disability insurance policy coverage is offered by some insurance companies in South Florida. It has the advantage of offsetting a financial loss at the aftermath of any disability period.

Insurance Cover for a Disability Caused by Illness, Accident, and Injury

When buying insurance, an insurance disability policy for accidents alone is inexpensive but doesn’t provide adequate insurance protection. Preferably, both illness and accident insurance coverage should be purchased for maximum protection.

How Gold Coast Can Help

While a disability insurance policy might look very simple on paper, the truth is that nothing in the financial world is as plain as it appears. This is why you need expert analysis, guidance, and counsel to help you shed light on any grey areas in your chosen disability insurance policy.

At Gold Coast Life Insurance, we accept members with pre-existing conditions, we do not require a medical exam, and we don’t discriminate against high-risk clients. These outstanding offers are the reasons why we remain our clients’ number-one choice. With us, you can never go wrong. Get your free quote and enjoy all these amazing benefits from Gold Coast Life Insurance today.

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