Disability Insurance For Individuals In Montgomery & Birmingham Alabama
Whether you have yourself or a family to support, disability insurance is something serious to consider. Depending on the amount of money you have saved up for possibly becoming unable to work for any amount of time, we may recommend long-term or short-term disability insurance. At Thompson Insurance, our team of insurance experts work with you to ensure you are getting the perfect plan based on your needs. Call our Montgomery office at 334-277-8970 or our Birmingham office at 205-969-6115 to talk with one of our experienced agents.
Types Of Disability Insurance Thompson Insurance Covers
Group Disability
Group disability insurance covers a group of people, such as employees working for a particular company. Typically, the employer would be the policyholder, while individual employees would receive certificates of coverage. The employer manages the policy and collects premiums from the insured people, often through payroll deduction. This kind of policy is very convenient for most workers, but if you leave your job you will no longer be covered.
Individual Disability
Disability insurance for individuals is a policy that you apply for as an individual. You pay premiums directly to the insurance company and receive coverage in which benefits are paid even if you change careers. Individual disability insurance is very flexible, but it can cost more than group disability.
Supplemental Disability
Supplemental disability is a top-up for group disability insurance provided by your insurance. Typically, group disability policies provided by employers cover between 40 and 60 percent of your salary. You can top up the benefits you receive after becoming disabled by taking out a supplemental disability insurance policy. This kind of policy belongs to you as an individual and applies even if you change jobs.
Short-Term Disability Insurance
Short-term disability only covers you for a short period. It can be very useful if you are injured or have a medical condition and need to take time off work to recover, but it won’t keep paying out forever.
Thompson Insurance will suggest a type of disability insurance based on your needs and the type of coverage you desire. If you need disability insurance or want to learn more, call Thompson Insurance at either of our Alabama locations or fill out our contact form.
