Don’t let an unexpected disability leave you unprepared. Schuder Insurance offers disability insurance to protect you and your family from financial hardship. Our plans are designed to cover your lost wages, medical expenses, and other costs associated with an unexpected disability. With Schuder Insurance, you can rest easy knowing you’re covered for the unexpected. Get started today and get the protection you deserve.
Disability Insurance Information
What are the types of disability insurance?
There are two types of disability policies: Short-Term Disability (STD) and Long-Term Disability (LTD):
- Short-Term Disability policies (STD) have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.
- Long-Term Disability policies (LTD) have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.
Disability policies have two different protection features that are important to understand.
- Non-cancelable means the policy cannot be canceled by the insurance company, except for nonpayment of premiums. This gives you the right to renew the policy every year without an increase in the premium or a reduction in benefits.
- Guaranteed renewable gives you the right to renew the policy with the same benefits and not have the policy canceled by the company. However, your insurer has the right to increase your premiums as long as it does so for all other policyholders in the same rating class as you.
In addition to the traditional disability insurance policies, there are several options you should consider when purchasing a policy:
- Additional purchase options
Your insurance company gives you the right to buy additional insurance at a later time for an additional cost.
- Coordination of benefits
The amount of benefits you receive from your insurance company is dependent on other benefits you receive because of your disability. Your policy specifies a target amount you will receive from all the policies combined, so this policy will make up the difference not paid by other policies.
- Cost of living adjustment (COLA)
The COLA increases your disability benefits over time based on the increased cost of living measured by the Consumer Price Index. You will pay a higher premium if you select the COLA.
- Residual or partial disability rider
This provision allows you to return to work part-time, collect part of your salary and receive a partial disability payment if you are still partially disabled.
- Return of premium
This provision requires the insurance company to refund part of your premium if no claims are made for a specific period of time declared in the policy.
- Waiver of premium provision
This clause means that you do not have to pay premiums on the policy after you’re disabled for 90 days.
Call Us Today
At Schuder Insurance, we understand that choosing the right disability insurance plan for you and your family can be a daunting task. That’s why we offer personalized insurance service to ensure you get the best insurance coverage for the best price. Our experienced insurance agents are available to answer any questions you may have, and can provide you with a free, no-obligation quote. Schuder Insurance in Fort Worth, Tx can help you and your family stay protected from all kinds of situations.
We offer disability insurance to help protect you and your family in the event of an unexpected illness or injury. Our disability insurance plans are designed to provide you with the financial support you need in the event of an unexpected accident or illness. With our competitive insurance quotes, rates and comprehensive coverage, you can feel confident that you and your family are financially secure. Contact us today to learn more about the disability insurance coverage that is right for you.