Disability Insurance Coverage for Winchester and Pittsfield Illinois
We rely on our paycheck to maintain a comfortable standard of living. It helps us sustain a roof over our heads, put food on the table, and allows us to enjoy our recreational hobbies. The absence of income can be a major stressor. If you become disabled through an injury or sickness, it is important to seek out your options regarding disability insurance. If you are the primary earner for your family, and you have been diagnosed with a disability, that can have an extreme impact on your family’s financial situation. At Peak Insurance Agency, we provide our clients with comprehensive and affordable disability insurance coverage to ensure that families are taken care of in the event of a debilitating accident or illness.
As an independent insurance agency, all our quotes come from the top-rated insurance carriers in the industry, so you can be sure that your rates are competitive and include high-quality protection.
Did You Know?
- Today, one out of four 20-year-olds will become disabled before they reach retirement.
- In 2016, the Social Security Administration approved over 740,000 disability applications. Just under 70 percent were initially denied.
- Statistics tell us that long-term disabilities caused by serious accidents only account for 9 percent of this type of disability.
- As of 2014, only 33 percent of the workforce in the U.S. had long-term disability coverage.
Short-Term Disability Insurance
Short-term disability insurance is designed to cover income loss on a short-term basis. If you receive a paycheck, but are currently unable to work as the result of a disability, short-term disability insurance helps protect your earned income. This coverage is meant to help cover routine monthly expenses like your mortgage, utilities, or car note.
Policy options are favorable with short-term disability and include one- and three-year benefit periods, with your monthly benefit amount falling between $300 and $3,000.
Long-Term Disability Insurance
Most people tend not to think about a situation until it happens; are you equipped with the right resources in the event that you experience an injury that leaves you permanently disabled? Purchasing a long-term disability insurance policy from Peak Insurance Agency results in the monthly benefits of financial compensation that is used to aid in paying your rent, bills, groceries, and other day to day financial obligations.
How Does It Work?
- You receive a monthly payment when you are unable to work and diagnosed with a total disability.
- You select the amount of time you must be disabled before receiving benefits (elimination period) and how long you wish to receive said benefits.
- You can choose a 5-year benefit period or receive benefits up to a certain age.
- Benefit amounts are based on income and range from $500 to $20,000.
- You have the ability to customize your coverage to best suit your needs!
Consider Disability Insurance Coverage
Want to explore your disability insurance options? Have any questions regarding short-term disability and long-term disability? Our insurance agents in Pittsfield and Winchester are experienced, well-versed on the subject, and eager to discuss your possibilities. For more information, contact Peak Insurance Agency today at 217-742-9595.