Disability Insurance - Hamilton

Disability insurance provides protection for your income. If you become disabled and are unable to work, it may be difficult for you to pay your monthly bills, service debt, and save for your future without your income. Hometown Life Insurance and our team provide the people of Hamilton, and surrounding communities, with valuable resources, advice, and a simple process to get covered. Although disability insurance may seem confusing or overwhelming, we are here to help to ensure you are properly protected. Get started today by contacting our team to let us know how we can help.

You’ve taken the first step towards finding the right coverage by partnering with Hometown and our team of licensed professionals. We are experienced in providing our neighbours, in Hamilton and the surrounding community, with disability coverage to protect their families and businesses. Taking into account any group coverage you may have, we are able to work with you to identify the individual coverage you may require to “top up” to meet your needs. You can find more information on our disability insurance pages or by contacting our Hometown Life Insurance team.

Providing an income to not only support yourself, but your young family, is a significant responsibility. A loss of that income could have a drastic affect on your family’s finances and lifestyle. It may force your family to make sacrifices, take on additional debt, or drain your savings that goes against your future plans. Although you may be in the early stages of your career, a disability insurance policy can be customized to meet your changing needs. We can add additional benefits to your policy to ensure that you can increase your coverage in the future, without any medical underwriting to ensure proper protection. Our Hometown team has provided many residents of Hamilton and the surrounding communities with valuable advice and customized solutions, to meet their evolving needs. You don’t want to find out too late, that you lacked proper coverage, so contact us today!

Since disability insurance is designed to provide an income when you are unable to work, any changes to your income should result in a review. Whether you receive a raise, get a promotion, change jobs, or even start your own business, your disability coverage should grow with you. An individual policy allows you the flexibility to pursue opportunities, knowing that you don’t rely on group coverage alone. As your income grows, you will be able to increase your coverage using a future insurability option, which can be added as a rider on your policy. This increase in coverage doesn’t even require medical underwriting! If reaching your future goals and retirement are important to you, disability insurance keeps you on track, no matter what may come your way.

The premiums for your disability insurance policy will stay level for as long as you have the same level of coverage. If you decide to increase your coverage amount, using the future insurability option, your premium would be increased accordingly and then locked in at that new amount. If you never increased your coverage, your premiums would never change.

Your disability insurance policy premiums are set by the underwriting team of the insurance company. When you apply for disability insurance, you will share the details about the coverage amount, term, waiting period, and any riders. You will also provide some personal details such as age, gender, smoking status, health, medical history, and lifestyle details. The maximum coverage you can replace with a disability insurance policy is commonly 80-90% of your after-tax working income, so there is incentive to return to work.

No – there is no cost to you to get a quote, apply for coverage, or even any other medical underwriting requests, that may be required. You only pay for your monthly insurance premiums once your policy has been approved.

There are no fees if you were to cancel your disability insurance policy at any time. This is a positive, if you no longer require your coverage, but it is crucial to give proper consideration before cancelling. If you are still working, you are leaving yourself in a high-risk situation, if you were to become ill or injured. Once you have a disability, it can also become more difficult to get coverage in the future, with premiums already increasing as you age. If your policy has a “Return of Premium” rider, you may receive a refund for a portion of your premiums if you cancel the coverage, as long as the qualifying period has been met. Our team of experienced, licensed professionals at Hometown are here to help you understand the specifics of your policy and the options you have, before making your decision. Once you have all of the relevant information, you will be able to make the best decision for the protection and security of you and your family.