When it comes to purchasing your disability insurance policy, it is important to not only compare policies but to prioritize what is most important to you. Sometimes the best is not always the best.
Premiums are based on several variables:
- Occupational Class
- Monthly Benefit
- Benefit Period
- Geography (where you reside)
- Company rates
- Available discounts
Some companies offer more than one policy within their portfolio, usually a top of the line and a lesser policy. It is important for you to consider price vs. benefits. The less expensive version may have a 24 month mental nervous limitation, but it may also cost 40% less. You need to weigh out if that is important for you to have on the policy and if you are willing to pay for it.
Buying disability insurance can be analogous to purchasing a car. What type of vehicle do you want to drive? Do you want the high end package? If so, at what cost.
When I’m helping my clients design their individual disability insurance policies, I like to listen carefully and see what is most important to them and to help them prioritize and design the most suitable policy for their needs.
For more information about individual disability insurance and to request a personalized quote comparison, contact Set for Life Insurance today.