Disability

DISABILITY INSURANCE

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Disability Insurance Information

When you come through our doors, we often ask you "What is your most important asset?" We receive a variety of answers, such as homes, land, businesses, etc. You may think that's a loaded question, and you're right! It is.

Agency 10 Insurance has expanded people's thinking to realize that your ability to earn an income is your most important asset. Do you have a long-term disability protection plan from your employer? Are you a business owner who isn't covered by Worker's Compensation? Are you the "breadwinner" of your household? These are three very important questions to answer.

Call Agency 10 Insurance today at 763-551-1010 to receive a complete personal disability insurance review and a FREE quote.

2 Year, 5 Year, or to Age 67

When choosing the disability plan to cover your needs, three things are important for you to consider:

How much of your income to wish to insure? If you earn $60,000 / annually your net income is around $40,000. The premium for the product has around 6 major factors that are taken into consideration which are: The benefit period you wish to insure: (2 year, 5 year, or to age 67), your occupation, your age, your health, the waiting period (30, 60, 90, 180, or 365 days) and the amount of income you wish to insure, which will determine the “benefit amount” that will be paid if a disability occurs and the policy is triggered. Do you wish to insure all of your income?
How long do you need the benefits to be paid in the event of disability?
What “waiting period” can you financially afford to wait before benefits are paid after you become disabled? The longer the waiting period, the less expensive the premiums.

Your occupation will determine the “classification” a disability underwriter will use. The classifications typically are range from A to AAAA. A contractor, active in the field, for example, will most likely have an A classification and an executive that remains in the office conducting business over the phone and computer would most likely be an AAAA.

Call 763-551-1010

to get a FREE quote