Buying a disability insurance policy is not the same thing as buying life insurance. To collect on life insurance, the insured person has to be dead. There is no ambiguity about the requirement to collect on life insurance. Because life insurance is simple, the consumer should pick the policy with the lowest cost. That is not the case with disability insurance. Consumers in Clarks Summit who need disability insurance are paying for favorable policy language rather than the lowest price. The lower the price, the harder it will be to qualify for disability benefits. That is why buying the cheapest disability policy is not the best way to buy. Agents working for the insurance company in Clarks Summit, PA can help consumers choose the right policy for their needs.
The cheapest disability policies make it hard to qualify for benefits. They require total disability where the insured person is unable to work at any job that he or she can qualify for. For example, a dentist who has hand tremors would not be able to work as a dentist. However, he may be able to work as a cashier at a fast food restaurant. That dentist would not qualify for disability benefits from the cheapest policies if he or she can work at another profession. It doesn’t matter if the dentist would make a lot less money. With the policy language in cheap disability policies, it is often very hard to qualify for disability benefits because the disability would have to be very severe.
An agent working for the insurance company in Clarks Summit, PA would recommend an own occupation policy for high income earners such as doctors, dentists, and engineers. With this type of policy, the dentist would be considered disabled if he or she was unable to work as a dentist. This type of policy provides true income security against disability for high income earners. Of course, the cost of this type of policy is going to be a lot higher. That is why disability insurance shopping involves consumers paying extra money in premiums for more favorable language in the policy.
