Disability Insurance - Short Term and Long Term Disability

Disability insurance provides income replacement for individuals who are unable to work due to illness or injury. According to CDC.GOV (Click Here), Statistics show that over 25% of people will experience a disability. Many assume that employer-provided benefits or Social Security Disability Insurance (SSDI) will cover their expenses, but these options can be limited, may not fully replace lost income, or may have strict qualification requirements. Disability insurance provides a source of income when work is not possible due to medical conditions.

Disability insurance pays a portion of income if a policyholder cannot work due to a qualifying disability. Benefits are issued on a monthly basis and can be used for essential expenses such as housing, bills, and daily costs. Coverage details, including benefit amount, waiting period, and duration, vary by policy.

Anyone who depends on their income to cover expenses may consider disability insurance. This includes:

• Employees: Individuals who rely on a paycheck to meet financial obligations.
• Business Owners & Self-Employed Professionals: Those without employer-sponsored disability benefits who want to protect their income.
• High-Income Earners: Professionals, such as doctors, attorneys, and executives, who may require coverage to maintain financial commitments.
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Short-Term Disability Insurance: 

• Covers temporary disabilities, typically lasting three to six months.
• Can be used for recovery from surgeries, illnesses, or pregnancy-related conditions.

Long-Term Disability Insurance: 

• Covers disabilities lasting several years or until retirement age.
• Can assist those with conditions that prevent long-term work.

Own-Occupation vs. Any-Occupation Coverage: 

• Own-Occupation Disability Insurance pays benefits if the policyholder cannot perform the duties of their specific job.
• Any-Occupation Disability Insurance pays benefits only if the individual is unable to work in any job based on their education and experience.
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1. Initial Consultation: Reviewing income, occupation, and financial situation to determine the appropriate coverage.
2. Policy Selection: Comparing coverage options, waiting periods, and benefit durations.
3. Medical Underwriting: Some policies require a medical exam, while others offer simplified underwriting based on health history and occupation.
4. Approval & Activation: Once approved, the policy takes effect after the waiting period.

Disability insurance can help maintain financial stability when work is not possible. Fortunium Wealth Management works with top A-rated insurance providers to offer different disability insurance options based on individual and business needs.

short term and long term disability in Sun City Center, Apollo Beach, Ruskin