Dictionary Definition of Disability By far, the simplest definition of disability comes from the dictionary. Merriam-Webster defines disability as: : a condition (such as an illness or an injury) that damages or limits a person’s physical or mental abilities : the condition of being unable to do things in the normal way: the condition[…]
Just like cars have a standard model, disability insurance has a base policy. Just like cars have options that can be added to the standard model, so does disability insurance. Optional “add-ons” to the base policy of disability insurance are called disability insurance riders. Riders allow consumers to individualize—to add optional features—to their base policy,[…]
An ounce of prevention, the old saying goes, is worth a pound of cure. That’s certainly true about disability. You can immediately reduce your odds of becoming disabled by making a few commonsense improvements in the way you live. Embrace a healthy lifestyle Oh, you’ve heard this one before? It’s still true. Shedding bad habits[…]
Protect your Greatest Asset: Your ability to earn. It takes years of education, training and commitment to practice medicine. If you became too sick or hurt to work, what would happen? Would your patients have to go elsewhere? How would you earn an income? Would your lifestyle have to change? Currently, the major players with[…]
Ah, to be a millennial. So young, so invincible … until you’re not. Regardless of your current vigor and vitality, it’s important to consider the possibility that you might not always be able to work. If you rely on working to pay the bills, to eat, and to just generally survive, you need to think about[…]
Falling in love changes everything in your life, including insurance needs. That is especially true for couples who eventually marry. Once two hearts become one, insurance can help smooth out the bumps that inevitably arise in a couple’s life together. For example, coverage can help protect the couple’s most valuable asset, the ability to earn[…]
As we have pointed out numerous times at Council for Disability Awareness, your ability to earn income is your most valuable asset. We tend to insure our property, but overlook the source that makes it possible to maintain our lifestyle—the ability to earn income. But what about disability insurance for the self-employed? Could it be[…]
When you think of disability insurance, do you think about insurance that covers disability due to a relatively severe accident? Many people do. What about the chance of a disability happening to you? You are a careful person and you have a desk job. No need for disability insurance, right? Well, the preceding scenarios make[…]
The Own-Occupation period is the foundation on all Principal policies. You always want to match the occupation period with your benefit period. The definition of the Own-Occupation period is: “You must be unable to perform the substantial and material duties of your occupation and not working.” This is the definition on all policies and, in essence, protects[…]