Disability Insurance for Individuals

Disability Insurance for Individuals

Getting group disability insurance from your employer is good, but it is not enough. That is why it is advisable to have individual disability insurance. This is the primary component that is involved in disability insurance. In this article, we are going to cover disability insurance that is concerned with individuals. This insurance helps to cover some of the things group disability insurance can’t cover. We need to know what disability insurance for an individual is. 

What is individual disability insurance?

Individual disability insurance secures a person’s income from illness or injury. This kind of income protection is often referred to as private disability insurance. Individual disability insurance, you are the only one involved and the policy is owned by you. Every risk in this disability insurance policy that you encounter is being faced alone. This policy costs more than a group disability insurance policy.

It is so clear that disability insurance for individuals is different from disability insurance for groups, and the latter involves a large group of people. Group members are the ones they enroll in whatever insurance plan they want. The sponsor of the group will pay the bills for disability insurance for the group. While at the opposite end, buying individual disability insurance makes sure you have coverage if you will like to change jobs or employer changes the plan.

Who can purchase individual disability insurance?

There is a possibility that your monthly income can be affected by unforeseen emergencies such as sickness, accidents, diseases and others that might keep you away from your work. Therefore, you can go for this disability insurance for individuals. This disability insurance is for everybody who earns a monthly income. There should be no problem getting this as long as you don’t have any issues.

There can be circumstances where you don’t want particular insurance coverage. For instance, retirees who are not employed are not going for disability insurance for individuals, because they do not have a reliable source of income. Apart from this, insurance carriers may ban some applicants who can cause much risk to them. A typical example of this is applicants with severe health problems.

Reason for individual disability insurance policy

Disability Insurance for individuals is very much helpful for individuals who earn a steady income every month. In America, one out of every four employees experiences an immobilize event that can stop them from their occupation before they retire. In other words, they can stay out of work for three months due to unprepared eventualities or pass away before they retire.

During any disability period where you stay away from work, there is a possibility of losing some part of your income until you resume your duty. This is where disability insurance for

Individuals can help you keep your income in place. While some people depend on disability insurance for a group, but it hardly ever offer the main benefits with other features. Besides this group, disability insurance coverage is dependent on being a fraction of the group that is sponsoring the insurance plan. If there is a change in this coverage it might lead to loss of the insurance coverage. They can be also yearly renewal procedures for group plans.

On the other side, you can get an individual plan as long as you can get the insurance premium. The individual policies are also convenient, it implies your insurance plans can’t be lost by changing jobs or group membership. Another merit of this disability insurance for individuals is helping to recover income for different bonuses and commissions, and other numerous incentive payouts which cannot be covered by long term disability insurance plans.

When determining your benefit amount, an individual disability insurance policy will take into consideration income above your normal salary. It could help you to supplement your present group coverage and other expenses that may come your way while you are absent from work.

Features important to an individual disability policy

Disability insurance for individuals’ policies always has optional features that could help individuals to increase their coverage. However, some features can add extra costs without much value. For beginners, this is generally suggested for you to have these features in your disability insurance for individuals and here they are:

  • Non-cancelable
  • Own occupation   
  • 90-day elimination

 1. Non-cancelable: 

This implies that the insurer of this insurance plan can alter any part of this insurance policy, which includes the premium amount or alter the insurance policy for one reason or the other.

2. Own-occupation provision: 

Here, the disability says that an insurance policy will pay premium benefits if an injury acts as an impediment to prevent an employee from carrying out his activities at the workplace.

3. 90-day elimination period:

This period is a time whereby the policyholder has to wait for his or her premium benefits to be given to him or her after becoming physically disabled. 

Things not covered by any individual disability insurance policy

No matter the kind of trick you want to use for the individual disability insurance policy, it will also have an include coverage exclusions. The purpose of this is to permit carriers to ease their risk of making double payment for a claim which can result from a risky condition. This can also be included in the insurance policy contract. 

Much insurance exclusion is applied to all insurance applicants. For instance, unforeseen circumstances injury claim will not be paid by the insurance company, such as, criminal activities, rebellion, self-inflicted acts, and others.                   However, there can also be subjections to different individual exclusions and this depends on the kind of insurance policy you are and the choice of lifestyle. 


Disability Insurance policy for individuals is good for any workers or any self-employed individuals but has its advantages and disadvantages. The main thing for anybody or a worker is for him or her to know what he or she wants in the insurance policy.

Author: Brandon

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