If you are looking for disability insurance protection in Pelham, you are in the right place! Hometown Life Insurance provides income protection, like disability insurance, to Pelham residents and the surrounding community. You can feel confident knowing that will be supported by our diligent and educated team, that strives to provide unmatched customer service, paired with our industry leading digital platform.
Finding the disability insurance coverage might seem a little complicated and overwhelming to do on your own. Our team at Hometown Life Insurance prides ourselves on helping educate our clients on the benefits of disability insurance and the different coverage options available. We will assist you in evaluating your needs, and provide a recommendation that will consider your needs, while factoring in any group coverages you may already have in place. Your ability to work and earn an income provides the funds to support your lifestyle, cover your monthly expenses, debt payments and savings goals including retirement. Ensuring you have proper protection is critical. Although many group benefit packages include some level of disability, it is very rarely enough to maintain a level of income that you will require without making drastic changes, or sacrificing your future goals. An individual disability insurance policy can be a great way to bridge the gap to provide you with the coverage you need. More information can be found on our disability insurance page, and our team at Hometown is always here to assist in whatever way we can!
Since your disability insurance is designed to replace an income loss, anytime your income changes, there could be a change to your disability insurance need. As discussed in the previous paragraph, a future insurability option is a common way to match these needs, but there are a number of other riders that you can add to ensure your disability coverage meets your changing needs. This can be especially true if you change jobs to start your own business where you may no longer have the benefit of group coverage. With individual coverage, you will have the freedom to make career changes without being held back by the disability coverage available because you have taken control for yourself. Disability insurance is crucial to protect your retirement goals to ensure that one day you can reach that level of freedom. You don’t want to gamble with your retirement on the line!
Disability insurance provides you with coverage over your working life that will provide monthly payments for the period of disability. When you apply for your coverage, your premiums will be locked in at the same amount for the duration of your policy. If you decide to alter your coverage in the future, your premiums would increase or decrease accordingly, but your base policy will never change in price.
If you have a disability insurance policy that is active and you become disabled, contact us at Hometown Life Insurance and we will help walk you through the claims process. Once the claim is filed for processing, you will be required to satisfy the waiting period on your policy, before receiving your monthly income. At a time of high stress, while you are unable to work due to injury or illness, we are here to make the process as simple as possible, allowing you to focus on getting back to full health.
Yes, disability insurance can be cancelled at any time. Since your premium payments only cover the cost of the insurance – there is no cash value in a disability insurance policy, so it would simply lapse with no additional costs. If your policy has a “Return of Premium” rider, you may also receive a portion of your premiums paid to the point of cancellation. More specific details will be outlined in your individual policy. Before cancelling a policy, we would recommend you reach out to our team at Hometown to review your options, especially if you may require coverage in the future again.
Disability insurance includes a large number of riders that allow you to customize your coverage to match your individual needs. Some of the more commonly seen riders include regular or own occupation, partial or residual coverage, cost of living adjustment, future insurability option, and return of premium. More information about each of the riders can be found in the FAQ’s section of our disability insurance pages. The definitions and riders on disability insurance tend to be more complex than other insurance coverage’s, so it is important to review your needs with a member our Hometown team to ensure you are getting the coverage you need.