If you are planning to move to another state in the near future, does it make sense to purchase your disability insurance prior to moving or to wait until you are in your new place.
Before you move, it is important to compare policy premiums and policy terms to see what would be ideal. Some states, such as Florida, California and New York tend to be more expensive. California and Florida also have a mandatory 2 year mental nervous limitation on their policies. Therefore, if you are moving to those states, it may make sense to purchase your policy prior to moving.
If you are moving from a more expensive state, it may make sense to wait until you are in the new state to purchase your policy.
Another variable is discounts. Depending on if you are leaving a discounted employer or are moving to a discounted employer, it may have an impact on your rates.
Your policy rate will be determined based on where you are at the time of application. If you move to another state, you do not need to notify your company and y our coverage will cover you based on the language in your policy contract.
For more information about disability insurance and moving or to request an individual quote comparison, contact Set for Life Insurance today!