Disability Insurance in Elk River and Maple Grove, MN

Disability insurance helps provide income protection if you become too ill to work or are injured so severely that you can’t perform everyday tasks at your job. This coverage may be essential to your financial security, so evaluating your disability insurance options is crucial. 

Contact the agents at Bryan Patrick Holte Insurance in Elk River, Minnesota, to learn more about disability insurance and get a quote. 

What Is Disability Insurance? 

Disability insurance provides a set amount of income each month if you are too hurt or sick to work. Each insurance company defines “disability” to help determine whether you may be eligible to receive money from your policy. 

How Does Disability Insurance Work? 

If you become ill or are injured, you’ll make a disability insurance claim. There may be a waiting period. Called the elimination period, it is the number of days you must wait before you start receiving disability payments. You can use the money you get each month for any reason. 

You may be able to add riders to your disability policy to help enhance your benefits. 

How Much Does Disability Insurance Cost? 

Your disability insurance premiums may range from 1% to 3% of your annual income. Long-term policies with more extended elimination periods may cost less. Several factors influence your disability insurance premiums, including: 

• Whether you use tobacco products
• Your occupation
• Your income level 

Who Needs Disability Insurance? 

No matter what you do for a living, a long-term disability insurance policy may play an essential role in your future financial well-being. If you count on your income from a job to pay your everyday bills, consider purchasing a disability insurance policy to help create a safety net if you are too ill or injured to continue working. 

Before purchasing disability insurance, check with your employer to determine if you have coverage. Even if you work for a company that offers disability insurance as part of the benefits package, you may benefit from purchasing additional coverage on your own. 

Get the Disability Insurance Policy You Need Today 

Talk with the agents at Bryan Patrick Holte Insurance to learn more about how disability insurance can help protect your income if you can’t continue to work due to illness or injury.