Disability Insurance in the Tampa Bay Area
Your income is your livelihood. If something happens to you that prevents you from earning your keep, are you protected? At Bradshaw Insurance LLC of Tampa, Florida, I firmly believe that every hardworking individual should be protected should they become unable to work. To that end, I help people attain a confident footing through disability insurance. When you opt for income protection, you are taking smart steps towards upholding your way of life. Let me find the right insurance policy for you.
What is Disability Income Insurance?
Disability Income Insurance, also known as “DI” or “Disability Insurance,” is a way to protect your income. It ensures your earned income against the risk that a disability will prevent you from completing the core functions of your work. If an illness or injury prevents you from doing your job, this type of insurance can help offset the potential money you have lost. Benefits arising from this type of income protection can help cover your monthly costs, such as bills, car payments, your mortgage, and also loans.
Choosing the Right Policy for Your Needs
By opting for disability income insurance, you add a powerful layer of protection that guards your retirement and other savings from loss. It’s a smart safeguard against the unexpected. While life insurance may protect your legacy, disability insurance is a great supplement if you anticipate your employer not covering your loss of potential income.
As with all insurance policies, disability insurance has different types of coverage. Explore your options through a no-obligation consultation. As a primer, this insurance is available in two types, summarized below.
Long-term Disability Insurance
Long-term Disability Insurance is a coverage type that provides a monthly income directly to you in case you are unable to work on account of a sickness, injury, or onset of disability. If your condition is covered by your policy, you can begin receiving benefits after a period you define. Long-term policies can typically provide coverage for up to five years, or until you’ve reached the age of 67.
This coverage type can pay a maximum monthly benefit from $500 to $20,000, depending on your occupation and income. It is also flexible, allowing you to define beneficiaries beyond yourself.
Short-term Disability Insurance
Short-term Disability Insurance covers narrower periods of time, typically one to three years. If you are disabled due to illness or injury, this policy can help pay your monthly expenses, including loans, rent, utilities, and mortgage. Depending on your original occupation and income, the monthly benefit for this coverage type ranges from $300 to $3,000.
Contact me to see if you qualify for disability insurance. We proudly serve clients throughout the Tampa Bay area.