Princess Anne Office
30386 Mt. Vernon Road
When it comes to insuring your assets, the most important thing is not your house, or any material object; but YOU and your ability to work and to provide for your family. At Landmark Insurance & Financial Group, our knowledgeable team of Health Insurance Experts can help guide you to the Disability Insurance Plan that meets your needs.
If you have a Disability Policy in place and become disabled or unable to work:
One of our Health Insurance Experts at Landmark Insurance look at the individual factors in your life and work situations to help you find the policy that best meets your personal insurance needs.
A variety of factors influence the final premium for Disability Insurance. Such as:
Age: Typically, the older the applicant, the higher the premium. The minimum age for applying is 18 and the maximum age is usually 60.
Gender: Unlike life insurance, female rates are higher per unit of coverage than those for male applicants.
Tobacco: Tobacco users can expect to pay as much a 25 percent more for the same protection as a non-Tobacco user.
Benefit Amount: Disability policies are issued with a specific benefit amount.
Elimination Period: This may also be is called the “waiting period.” It refers to the period of time you must be out of work before benefits are paid.
Ratings: Applicants who have a pre-existing health problem may be charged a higher premium against the extra risk.
Disability: There are 5 types of Disability:
Benefits: The amount the insurance company pays for covered services.
Own-Occupation – You are unable to perform the material and substantial duties of your occupation. If you meet the definition of totally disabled and become employed in a new occupation, your benefit will not be affected by any income from the new occupation, regardless of the amount.
Benefit Period: The benefit period refers to the length of time that the benefit is paid once you have satisfied the elimination period. Policies commonly pay for two, five or 10 years. Other policies pay to age 65 or your Social Security Normal Retirement Age (SSNRA). The longer the benefit period, the higher the cost. Benefits end when you return to work in your occupation, or depending on the contract to another occupation making the same income.