4 Truths About Accident Disability Insurance
Accident disability insurance is private insurance that you purchase 
through an insurance company or through an employer to provide you with financial protection in the case of an injury accident, which, according to the U.S. Department of Commerce, costs this country over $500 billion a year.
Accident disability insurance can often mean the difference between keeping your house and ending up in foreclosure. In order to make a wise purchasing decision, you need to understand accident disability insurance better.
What you Need to Know About Accident Disability Insurance
Accident disability insurance premiums are based on your age, how much coverage you need, and how long the insurance will pay.
Accident disability insurance policies are all different. Make sure you understand what will and will not be covered under your policy.
When determining how much accident disability insurance you need, calculate how much money your family will need to survive for up to a year if you are unable to work.
Don't be afraid to obtain quotes from several companies before choosing an accident disability insurance policy. Choose the one that offers the best coverage for the most reasonable premium.
Some of the great benefits available (varies by state)
Renewability
This product guarantees the right to continue the coverage until age 67. During that time, we cannot cancel the policy as long as the required premiums are paid when due.
Maximum Benefit Amounts
The maximum monthly benefit amount available is $5,000.
Total Disability Income Benefit
If an injury prevents you from performing the material and substantial duties of their regular occupation, and they aren’t gainfully employed in another occupation, we will pay a monthly benefit once the elimination period has been met.
Partial Disability Benefit
If an injury prevents you from performing the material and substantial duties of their regular occupation for more than 50 percent of the time usually spent in the daily performance of such duties, we will pay 50 percent of the total disability monthly benefit. These benefits commence after the elimination period has been satisfied and are payable for up to six months.
Survivor Benefit
If your client dies while they are disabled, we will pay their beneficiaries a lump sum amount equal to three times the total disability monthly benefit payable at the time of their death.
Recurrent Disability
If a related disability occurs within six months of returning to full-time employment, we will consider it a recurrent disability. A new elimination period will not need to be satisfied and the same benefit period will continue.
Presumptive Total Disability
We will presume your client to be totally and permanently disabled if an injury results in their complete and irrecoverable loss of hearing, speech, sight or use of both hands, both feet or one hand and one foot. We will pay your client total disability
Additional Rider (varies by state)
Accident Hospital Confinement Indemnity Benefits Rider
This optional rider pays a daily room benefit of $125, $250, $350, or $500 (x2 ICU) for each day of hospital confinement due to an accident. Benefits are payable for a maximum of 45 days for any period of confinement.
Accident Medical Expense Benefits Rider
This optional rider reimburses your client for $1,000, $2,000, $3,000 and $5,000 in medical-related expenses incurred per accident. Only services and supplies received within 26 weeks from the date of the Injury are covered, excluding dental care or
treatment.
Please be sure to ask for full details and a complete proposal on any disability insurance plans. Availability and definitions vary by state.
