Disability Insurance - A Smart Investment

For most people, "disability insurance" conjures images of accidents, mishappening, and worst-case scenarios. These things are what you don't plan. Consequently, it results in an average American knowing very little about the different types of disability insurance, how to qualify for it, and the resources designed to help with the application process. 

The ability to make a living is your most valuable asset. This way, disability insurance in NJ is financial protection for your most valuable asset - your ability to work and earn an income. 

Do You Need Disability Insurance?

As stated above, many people associate disability insurance with accidents. But disability insurance isn't just focused on accidents alone. A vast majority, 90% of long-term disabilities, are caused by illnesses such as cancer, lupus, heart disease, arthritis, and multiple sclerosis. Unfortunately, there is no guaranteed way to protect yourself from any of those maladies, even if you practice healthy and safe habits. But, new jersey disability insurance is a way to protect your family's way of life. 

The benefits you receive can be used for:

* Mortgage

* Retirement Contributions

* Utilities

* Personal Loans

* College or Childcare

* Credit Card Payments, and much more.

Disability Insurance - The Underwriting Process:

Your risk of becoming disabled plays a significant role in determining how much you'll pay for coverage. But before you get caught up in the cost, you should understand various factors that insurance companies look at while assessing risk.

 - Your Age

The disability insurance's cost increases as you age. Thus, buying disability insurance is an intelligent investment for healthy young professionals.

- Your Gender

Other factors being equal, women can pay up to 40% higher premiums for disability insurance. 

- Your Occupation

Some jobs are more susceptible to illness/injury than others. Therefore, insurance companies classify jobs based on the hazards and difficulty of the work.

- Your health history

Your current health status can foreshadow your risk of disability in the future. Insurers take into consideration your: 

*Current/Past tobacco use

* Family medical history

* Chronic Conditions

* Results from blood and urine test.

There's no way to answer "Is Disability Insurance Worth It" but you can prepare for the worst by putting disability insurance in place today.

  

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