What Will Affect My Disability Insurance Premium?
Disability insurance is a must-have for any working professional. If you are ill or injured, it may become difficult or impossible for you to do your job and make a living for yourself and your family. Disability insurance replaces a percentage of your income while you are unable to work. The full amount of your income is never replaced in order to provide motivation to return to work.
If your employer offers disability insurance, you may want to supplement that with an additional policy. In this way you can get a higher percentage of your income while on disability. Disability premiums are determined by these factors:
- Occupation
- Income
- Age
- Gender
According to the Insurance Information Institute, if you have a job with a low risk of injury, such as an accountant, your premiums would be lower than someone with a job that has greater potential for injury such as a construction worker. To get disability insurance quotes fill out InsuranceBureau's request form. You can compare multiple quotes from competing independent insurance companies.
Sources
- How are disability premiums determined? Retrieved April 25, 2008, from http://www.iii.org/individuals/disability/premiumsdetermined/
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