A disability completely transforms your life. In many cases, people aren’t able to generate the same income, and mounting bills can quickly lead to financial problems. Disability insurance is an invaluable resource when this happens. If you aren’t covered by your employer and have to purchase an individual plan, there are several important factors to consider. Keep the following tips in mind before buying a plan

Your Guide to Buying a Disability Coverage

1. Find an Agent Who Knows Disability

To ensure you’re getting the right plan for the best price, find an insurance agent who is knowledgeable about disabilities. They should know the difference between various insurance plans and the intricacies of each. They also need to be familiar with carriers. It’s important that you feel confident with the plan your purchase. Even more important is that you understand it and can maximize its advantages.

2. Buy Before the Worst Case Scenario

Many people only buy disability insurance when they believe they’re at risk of developing a disability. This is like buying fire insurance as a forest fire sparks up down the street. Carriers will be hesitant to provide coverage if you’ve suffered a serious injury or have a new medical diagnosis that could generate high costs. For the best rates and options, purchase disability insurance before it becomes more likely that you could suffer a disabling injury — such as before starting a physically demanding job.

3. Know Your Options

The three main disability insurance options are own-occupation, gainful occupation, and modified own-occupation. The first offers total disability coverage. Modified offers slightly less, and gainful offers minimal coverage. There are also short- and long-term policies. Short replaces a larger amount of your base income while you’re disabled, but it pays out only for several months to a year. Assess your risks and the financial assistance you’ll need should the worst happen.

To work with a qualified insurance agent for purchasing a plan, contact the team at Albers Insurance Agency. Based in Cincinnati, OH, they offer a variety of plans from industry-leading carriers. They focus on educating clients and will help you navigate the intricacies of disability insurance, life insurance, homeowner’s insurance, and other forms of coverage. Call (513) 891-3304 to schedule a consultation and visit their website to learn more about their products and plans.