Disability Insurance Agency in NYC
What Disability Insurance May Cover
Put simply, disability insurance is protection against an illness or injury that may result in the loss of income for some time. Today, when most people talk about their most valuable asset they often mention their car, their home, or other possessions. It seems like second nature to make sure these items are insured from loss or damage.
By that same token, have you thought about insuring your most important asset: your ability to work? Injury and illness can leave you unable to work, and without income, medical bills and your daily expenses become heavy burdens.
Learn why having disability insurance should be an essential part of your financial plan.
Find Out How Much You Could Save!
How Disability Insurance Works
But the reality of it is – your most valuable asset is YOU.
In a busy metroplex like Manhattan, the ability to work isn’t just important. It’s a necessity. If you were to find yourself unable to meet the demands of your job due to unforeseen injury or sickness, you could be facing a difficult reality. However, you can avoid the worst case scenario by remaining proactive. By purchasing disability insurance, you can receive a portion of your income and use it to pay for your bills or anything else that may come up while you are out of work. Your policy could cover any of the following:
- Partial Disability
- Total Disability (Own-Occupation or All-Occupation)
- Presumptive Disability
- Mental Illness
- Complications from Pregnancy and more!
For workers in Brooklyn, Queens, or anywhere else in NYC, Margolis & Associates are considered top disability insurance brokers in the area. We excel in helping you find long term care insurance in NYC and nearby communities, so don’t hesitate to call us with your questions.
Why is Disability Insurance Important?
Disability insurance in Queens and the surrounding areas is a crucial safety net that many people often dismiss. Most times, if you’re healthy, you can’t imagine a scenario where you won’t be. In a bustling city like NYC, where life moves at a rapid pace, unexpected incidents can flip the perception of one’s ability to earn a living. As a trusted agency in NYC, Margolis & Associates it’s our job to consider the unique risks residents face, whether they’re in Brooklyn or throughout Manhattan. As a result, it’s crucial for residents to consider disability insurance as a pivotal part of their financial planning. If you don’t plan for contingencies before they happen, you could find yourself blindsided when they arrive, putting you in a difficult financial position.
Living in such a dynamic environment means that NYC residents need to be prepared for any sudden changes in their circumstances. Not having disability insurance can lead to financial hardships, especially if the primary earner in the household faces an unexpected disability. With the right agency guiding you, securing a policy that’s built around your specific needs becomes a seamless process. It’s not just an arbitrary safety net either. Disability insurance is a commitment to ensuring the well-being of you and your loved ones. If you want to make sure that you have the right financial safety plan in place, reach out to our team today.
Types of Disability Coverage
If your employer provides workers’ compensation insurance, you may think that you don’t need disability coverage. Most people make this mistake. Little do they know that workers’ compensation only covers injuries that happen during work hours and illnesses that result from conditions in the workplace. If you suffer an injury or fall ill outside of work, you could be stuck drawing from your savings to pay for daily expenses. Luckily, workers in Brooklyn and Queens have other options to make up income when they’re sick or injured.
Short Term Disability Coverage
As the name suggests, short-term disability plans can cover you when you are out of work for a short period. Depending on the policy, this could be anywhere from 9 weeks up to one year. New York is one of the few states that offers a limited form of short-term disability coverage, so if you work anywhere in Manhattan, you have access to short-term disability coverage for up to 26 weeks. Of course, that only covers half the term offered by many short-term disability plans, so workers in Brooklyn, Queens and other communities in the Empire State may want to look into purchasing supplemental insurance to cover the gap between state-sponsored insurance and long-term disability plans.
Long Term Disability Insurance
This type of coverage can compensate you for disabling injury or illness for a time ranging anywhere from 2 years to the day you retire. These plans can offer up to 60% of your gross monthly income while you’re out of work. There are many different types of long-term disability policies available to workers in NYC, so it’s best to call an insurance broker if you are considering purchasing this insurance.
If you are interested in obtaining disability coverage, get in touch with us at our Manhattan office right away by calling (212) 684-0711, or by sending an email to info@margolisandassociates.com. In addition to providing policies to workers in Queens and Brooklyn, we can also assist you in obtaining Nassau County disability insurance.
Contact Us to Learn More!
Contact us today or email us at info@margolisandassociates.com with your questions about disability insurance.
