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What are the Costs of Disability Insurance? Aberdeen SD

Disability insurance can vary widely in cost, you can expect that any policy that gives you a reasonable benefit (50% to 70% of your salary) will also be reasonably expensive.

Simplified Life Insurance
(605) 413-4133
4300 S. Louise Ave. STE 101
Sioux Falls, SD
 
Smith Insurance Agency
(605) 363-3888
1003 W 2nd Ave
Humboldt, SD
 
Olson Group the
(605) 335-7777
PO Box 89727
Sioux Falls, SD
 
Wilde Dean L Agency
(605) 338-8951
115 W 39th St
Sioux Falls, SD
 
Hagen Insurance Agency
(605) 225-6260
404 S Lincoln St
Aberdeen, SD
 
Freimark Associates Inc
(605) 882-1688
PO Box 784
Watertown, SD
 
Kundert Williams Insurance Agency
(605) 256-6608
122 W Center St
Madison, SD
 

What are the Costs of Disability Insurance?

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Disability Insurance Cost

Disability insurance can vary widely in cost, depending on the kind of benefit you are looking to receive. However, you can expect that any policy that gives you a reasonable benefit (50% to 70% of your salary) will also be reasonably expensive. Keep in mind that most financial planners state that you should have between 50% to 70% of your salary in disability benefit's in order to ensure that you can survive your health crisis financially. Also, keep in mind that ideally you will have paid the premiums yourself, so that the benefit you receive is tax-free. If your employer is paying for your long-term disability insurance , your benefit should be higher because you will pay income tax on it.

So, when thinking about premiums you do have to keep in mind what will happen when you are in the position to collect benefit's.

In general, premiums will be based on your age, sex, occupation and the amount of income you are trying to protect. If you have a low risk job, you can expect a lower premium. However, if you are trying to protect a large salary, your premiums can be quite expensive.

In general, the less likely that you will be hurt on the job, the lower your premium will be. So, if you wash windows on skyscrapers, your insurance is likely to be expensive. Most white-collar workers will get a break as a result. A computer programmer working in an office will likely have lower disability premiums than a construction worker, even if the ...

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