Long Term Disability Insurance


Since 2002, Disability Insurance has helped thousands of people, just like you, save money on their Disability insurance. We do this by quickly comparing the price, features and financial strength of hundreds of disability insurance products from brand names you trust.

Jake’s Story: The Perils of Living Without LTD

Jake was a successful financer, who was content in life. He was building a new home, had a lovely wife and 2-year-old daughter. Expenses were high, but Jake earned a respectable living. Plus, he’d saved throughout his burgeoning career, and felt his family’s financial future was secure.

That all changed in minutes. As Jake was walking through the construction site of his new home, he tripped on a stack of concrete blocks. The bricks fell on his leg, completely shattering both bones. Jake was advised to rest for 6+ months for recovery.

That would be six months without monthly income. While the hospital expenses were covered by his health insurance, he was already feeling the pinch covering living expenses, the cost of building his home and providing for his family.

The problem: Jake lacked long term disability insurance.

A comprehensive LTD policy would have protected Jake and his family, providing income while he recovered. Unfortunately, there are millions of people like Jake in the U.S. They are underprepared to weather the financial storm caused by an unexpected illness, accident or injury.

How Many Americans Need Disability Insurance Policies?

In 2016, more than 2.3 million Americans applied for disability benefits, according to Social Security Administration statistics. What’s concerning, fewer than 50 percent – just 700,000 – were actually awarded those necessary benefits.

Unfortunately, the need for disability insurance isn’t uncommon in the U.S.

In fact, a substantial amount of workers suffer from disabilities before they reach retirement age. According to the Social Security Administration, 1 in 4 workers will suffer from a disability by the time they retire. Many of these people are still in their 20s. In other words, one-quarter of all young workers are “at risk” for disability.

You might be thinking: I’m healthy; I’ll never need disability insurance. Yet, even a large number of healthy people will require disability coverage at some point in their careers.

Here’s an example: A 35-year-old man – who’s 5’10”, 170 pounds, and moderately active – has a 21 percent chance of being disabled for three months during his career. Of this population, 38 percent will suffer disabilities that last five years or more.

What Are the Risk Factors for Long Term Disability?

You might be wondering: If healthy people have a 20+ percent chance of suffering a disability, what happens to the risks for people who do lead a healthy lifestyle?

Well, the likelihood is much greater; it actually increases exponent. That same 35-year-old man – if he weighed 210 pounds and was also a smoker – his chances of suffering from a disability jump to 45 percent.

A variety of unhealthy lifestyle factors can increase your risk for disability. They include:

Are You Underestimating the Need for Long Term Disability Insurance?

An overwhelming majority of Americans do not believe they will require disability coverage during their careers. In fact, just 2 percent of American wage earners believe they will suffer a disability lasting three months or longer.

Others mistakenly assume that their employer or the state or federal government will provide disability insurance coverage.  In most cases, that’s unfortunately not the case.  The majority of states do not provide disability insurance. Of the states that do, many only provide disability if the accident or injury occurred at the workplace. In that case, Jake would be out of luck.

The federal government, on the other hand, does offer disability coverage through the Social Security program, but federal requirements for disability are especially stringent. Just half those who apply qualify for coverage.

What Are the Benefits of Disability Insurance?

Ultimately, the real benefit of disability insurance is peace of mind. You can rest assured that in the case of an accident, injury, or illness – and surprisingly, 90 percent of disabilities are due to medical reasons – you will have a reliable source of monthly income. Key benefits include:

How Does Long Term Disability Insurance Work? Do I Need LTD Coverage?

Ultimately, your long term disability benefits are determined by your policy. In general, LTD insurance provides benefits after you’ve been out of work for an extended period of time, i.e. 180 days.

After this determined period of time, the long-term disability plan begins to replace a significant portion of your monthly salary. This coverage can last for years – depending on the policy – and in some cases, for the rest of your life. Once you’ve recovered and return to work, you stop receiving the benefits.

What type of plan is right for your needs? Whether you’re a single professional, or you’re reaching the end of your career, a long term disability plan can be a lifeline for you. Here are a few scenarios:

Long Term Disability Insurance for Business Owners

Business owners, in particular, are vulnerable to the financial effects of a long term disability. Why? Just think about it: As a business owner, what would happen to your company if you were unable to take care of it for an extended period?

How would you pay for your staff’s salaries, office rent, supplies, materials, marketing, and other overheads of running a business?

That’s a scary scenario, isn’t it? Your business would suffer and growth would stall. It might happen in a matter of weeks or months.  Fortunately, disability insurance premiums for business owners are a cost-effective investment. LTD insurance for business owners provides income to cover:

As an entrepreneur, you can see the long term disability insurance. Fortunately, we can help: Disability Insurance helps consumers save up to 70% on your disability insurance plans.

How Can Disability Insurance Agent Help?

Shopping for insurance plans and disability insurance companies can be overwhelming. There are just so many options and so many sellers. Fortunately, a disability insurance agent can help.

Typically, agents can also secure best rates for their clients, as they understand the entire insurance landscape and know where to look for low-cost disability insurance policies coverage. Agents can also help you secure specialty plans – that include life insurance + disability insurance.