How to Buy Disability Insurance
Having disability insurance can help to provide for a person’s family if an injury occurs. Short-term and long-term disability are two different types of insurance to consider. If a person’s employer does not offer any disability, purchasing a policy from an insurance agent can provide the person with coverage.
- Look online to find out the cost of disability insurance. Use a search engine and type in “disability insurance cost” in the search field. Navigate to an insurance company website from the list of choices to find the cost of the coverage. Write down the information so you can refer back to it after you do some more research.
- Find out if your employer has disability insurance coverage in your benefits package. Contact your human resources department to ask about the type of disability insurance that you have. Sign up for the insurance if you do not already automatically have coverage in place.
- Search for an outside insurer to buy disability insurance if your employer does not offer a policy. Start by contacting your auto insurance agent, or if you own a home you can also try your homeowner’s insurer. Set up a time to meet with the agent to discuss a disability policy.
- Meet with the insurance agent you choose, to review the different types of disability insurance the agent carries. Ask the insurance agent to explain what the disability policy covers. Find out the cost of the policy to see if you can afford the payments.
- Shop around if you want to compare different disability policies. Make sure you only contact an agent who represents a well-known insurance company. Go over the policy with the agent to see if you like it better than the first insurer’s coverage. Purchase a disability policy from the agent who has the coverage that you need for the best price.