If you own your own business, Long Term Disability Insurance, or LTCI for short, will pay benefits to an individual who becomes disabled or unable to work for a specified period of time. There are a variety of benefits available under this type of coverage.
If you have a history of disability you may qualify for this type of insurance. You need to meet certain income guidelines. Your health and current medical condition will be taken into consideration before you are classified as an eligible candidate for benefits. Many people think that LTCI insurance is only applicable to people who are self-employed. However, this is not true. As a matter of fact, LTCI can even be beneficial for those who are employed.
Life coverage is one type of insurance that a lot of people do not think about when they are buying insurance. While you may not think of this as insurance, it is important to understand how it works. It pays benefits if your family is unable to care for you due to any reason, such as death. You will receive benefits for your dependents and expenses related to their care. The other type of insurance that is usually taken advantage of is medical insurance. Medical insurance can provide a steady income to cover medical expenses for yourself or a loved one. This can make it easier for you to keep on top of your medical bills and make sure that you get the best medical care.
Remember that there are many advantages to getting long-term disability insurance from a third party rather than buying it on your own. A good insurance agent will know exactly what to look for in terms of eligibility, benefits, and rates to compare. If you are self-employed, you should make sure that you find a company that offers long term disability insurance self employed, since many of them do not. It can help you make sure that you are covered when you need it most. If you are self-employed you may want to consider getting long term disability insurance through a group policy that your employer may offer. While it is possible to purchase individual policies if you are self-employed you will have to pay out of pocket for these policies.
Another option is getting long term disability insurance through your own business. If you are self- employed and you work for yourself, you may want to consider working with a small business broker. These individuals can help you locate companies that offer such plans. You will have to pay a small fee in order to get insurance and this can help to reduce your monthly out of the pocket expense. Getting insurance through a broker can help you save money on premiums because they get quotes from a variety of different companies. A broker can also refer you to the best deals available. You can then take care of the paperwork for your insurance. They also have the expertise to set up an affordable monthly premium.