Long Term Disability Insurance in Hollister, CA

Long-term disability insurance is a crucial yet often overlooked component of financial planning. It can provide income replacement if you become unable to work due to a serious illness or injury, potentially preserving your quality of life during difficult times. While many people insure their homes and cars, some might not consider the financial impact of losing their ability to earn a living. These policies can help address this potential flaw in your financial fortifications.

What Is Long-Term Disability Insurance?

Long-term disability insurance can replace a portion of your income (e.g., up to 70%) if you cannot work for an extended period due to a qualifying medical condition. Unlike short-term disability insurance, which focuses on covering temporary conditions, long-term policies are designed for more serious, long-lasting impairments. Exact details may vary, but many policies begin paying benefits after a waiting period of 90 to 180 days.

What May Qualify for Long-Term Disability Benefits?

To qualify for long-term disability insurance payouts, you must have a medically documented condition that prevents you from performing the duties of your job or, in some cases, any job. Common qualifying conditions include the following:

• Musculoskeletal disorders (e.g., back injuries)
• Cancer
• Cardiovascular issues
• Mental health disorders (e.g., severe depression or anxiety)
• Neurological conditions (e.g., multiple sclerosis)

Insurers and specific policies may have their own definitions of what constitutes a long-term disability, so it’s important to have an exhaustive understanding of your coverage and possible exclusions.

How Long Can Coverage Last?

The duration of long-term disability benefits can depend on your policy. Some plans offer coverage for a set number of years (e.g., 5 or 10 years), while others may continue to provide financial aid until you reach retirement age. Generally, the longer your maximum benefit period, the higher your premiums will be.

Learn More

Contact Shelton Insurance today to discuss long-term disability coverage and find the right policy for you.