When Are You Considered Disabled?

So, this is the big question, when can you be considered disabled in order to execute your insurance policy? A disabled person is someone who, for a mental or physical reason, can't perform his regular job.

Plus, there are two kinds of disabilities, short term (STD) and long term (LTD). This is very important since you need to consider this when looking for disability insurance quotes. In STD, the insurance plan pays a percentage of your salary.

Take notice that neither STD or LTD cover injuries or diseases that have been caused by the job per se. In those cases, there is another type of insurance, known as the workers compensation insurance.

Which are the typical causes of STD? The principal one is normal pregnancy, which accounts for 20% of the total. Then comes complicated pregnancies, which add a total of 9% (it must be noticed that this percentage is very high, that's why it is very important for pregnant women to coordinate periodic visits with their doctor).

Injuries of any kind (except the ones related to the back) also share an important 9%. They can be the consequence of an off-site accident like a car crash. Finally, with 8% each, comes back injuries and digestive and intestinal problems.

So, let's say that you had an accident while riding your bike and need to go to rehabilitation sessions. In those cases, the STD is perfect since it will replace part of your income in that period.

Then there is LTD. LTD is the step after STD. While STD can be extended up to a maximum of a year, LTD can go for many years. A typical LTD policy will cover half your salary up to $5,000 per month. And for how long? It depends, it can be until you are able to go to work, until you reach the 65 years of age or the retirement age that is determined by the Social Security.

Factors That Influence The Cost

There are several things that an insurance company takes in consideration when determining an individual disability insurance or at a group disability income insurance negotiation. The first one is age. Younger people pay less money than older ones, who are more prone to "breaking".

Smoking is also an important factor since it is proven that those subjects have a higher probability of suffering determined kind of diseases, like lung or throat cancer. Other factors that have an influence are gender, current health status, type of job, benefit amount, among many others.

Long term and short term disability insurance have given a new hope to the millions of Americans that suffer from this problem. As incredible as it may sound, this kind of protection didn't exist half a century ago. It almost sounds unconceivable that a huge percentage of the population had to suffer for so long the consequences of destiny without any kind of aid. So, do not wait until it is too late. Ask for some disability insurance quotes today.

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