727-376-STOR (7867) 7sss@verizon.net

What is disability insurance?

Disability insurance is insurance that’s designed to protect your income and thus your standard of living. If you become disabled, you probably won’t be able to earn much income but you will continue to have living expenses. You monthly outlays could even rise, especially if you need paid help at home, can no longer drive, or have to pay for prescriptions or therapy that aren’t completely reimbursed by your medical coverage. Disability insurance will provide monthly payments to help you meet your daily living expenses.

Evaluating Disability Income Insurance

A Disability Income Insurance Checklist:

With disability income insurance, you are purchasing a stream of income to be delivered to you by an insurance company in the event you become disabled. The policy features and benefits should be coordinated with your needs and premium-paying ability. As you evaluate disability income policy features and benefits, remember that the choices you make will impact the premiums you pay and the benefits you are entitled to receive.

Benefit Amount

What is the monthly disability income

Waiting Period

For how long must you be disabled before
the benefit begins? (Common waiting
periods are 60, 90, 180, 365 or 730 consecutive days of disability)

Definition of Total Disability

What definition of total disability
must be met for benefits to be payable? (The
definition of total disability can range from the inability
to perform your own occupation to the inability to work in
any reasonable occupation based on your education, training
and experience. This is an important policy provision to evaluate.)

Partial Disability

Will the policy provide benefits for
partial disability following a period of total disability?
If so, how much and for how long? What requirements must be

Rehabilitation Benefits

Does the policy pay any of the expenses
of a rehabilitation program during a period of disability?

Waiver of Premium

Will policy premiums be waived during
a disability?


Is the policy guaranteed renewable?
Under what conditions can premiums be increased?

Other Benefits to Consider

Other available benefits may include:

  • Additional Purchase Option:
    Right to purchase additional disability income protection
    without evidence of insurability.

  • Social Security Rider: Coordinates
    with an expected Social Security disability benefit.

  • Cost of Living Rider: In
    the event of disability, increases the disability benefit
    each year to compensate for increases in the cost of living.