Pennsylvania Disability Insurance (QUOTES, COST & COVERAGE)
Get Pennsylvania disability insurance quotes, cost & coverage fast. Disability insurance helps cover your expenses if you are unable to work in PA due to illness or injury.
Pennsylvania Disability Insurance
Pennsylvania disability insurance helps cover your expenses if you are unable to work due to illness or injury. Throughout your work history, the probability of becoming disabled is higher than death before the age of 65. So why aren’t more people purchasing disability insurance policies?
What Does Pennsylvania Disability Insurance Cover?
Disability insurance, also known as disability income insurance, is a coverage that protects your income against the risk of disability. For example, if a worker suffers from an inability to perform their work duties due to a disorder or an injury, they will not earn an income if they don’t have disability insurance, but if they do, the policy will cover them until they are able to resume work.
There are two major types of Pennsylvania disability insurance: short-term disability benefits (STD) and long-term disability benefits (LTD).
Short-Term Disability Insurance:
Short-term disability insurance protects employees from temporary loss of income. With a short-term policy, you will receive a percentage of your income lost due to sickness or injury. This policy is usually provided by employers, and are sometimes provided under group insurance packages or as part of a benefits package.
Just like the latter, if your PA employer does not offer this type of coverage, you can purchase an individual plan from an insurance agent.
Most disability insurance plans include certain stipulations regarding eligibility. Some will specify a minimum service period and others may need you to have worked full-time or consecutively for a certain period of time.
Long-Term Disability Insurance:
Long-term disability insurance covers a part of your income if you are injured or ill. When you are unable to work for a long period of time, a long-term disability plan can cover a part of your wages and will typically start after a short-term policy has elapsed.
The time frame of a long-term plan will vary from policy to policy, but will usually take about 10 to 53 weeks, with the average taking about 26 weeks.
What Pennsylvania Disability Insurance Doesn’t Cover
Disability insurance does not cover:
- Cover medical care or long-term care services
- Benefits once you are over age 65.
PA Disability Insurance vs Workers Compensation
When workers are injured on the job or sustain illness or injury out of their workplaces that result in absence from work, disability or workers’ compensation benefits are made available. Employers compensate their staff who suffer work-related injuries through a workers compensation plan, but those who suffer non-work related injuries will be covered by a disability insurance policy.
The primary difference between Pennsylvania disability and workers’ comp is whether or not the illness or injury is work-related. Disability insurance will pay a portion of an employees earnings if they cannot work and the policy can be taken out independently without a contribution from an employer.
Do I Need To Buy Pennsylvania Disability Insurance?
The fact is that during the course of your working life, you may need disability coverage, but in truth, most people do not know what makes them eligible for disability insurance. Eligibility will vary depending on your employer’s policy. Some employers consider you disabled when you can’t perform your duties, while others will classify you as disabled if you’re unable to perform in any suitable role based on your training, education, and experience.
Many employees get some type of insurance from their employers when they are unable to perform their duties, but this is usually for a short period of time. Notwithstanding, it’s necessary to have a disability coverage on-hand to ensure that you don’t lose your monthly income altogether. Keep in mind that several policies have clauses and conditions that may not completely cover certain disabilities.
Just about everything you intend to accomplish in the future is dependent on the expectation that you will continue earning an income. That income is the resource needed to achieve your biggest financial goals. You don’t have to earn a lot of money, you just need enough to cover your personal goals while you get better. So protecting your ability to earn should be a financial priority.
How Much Does Pennsylvania Disability Insurance Cost?
How much does disability insurance cost? The average price of PA disability insurance is usually very affordable. The premiums vary depending on the company and their underwriting rules, and it depends on the coverages and deductible selected. Following are some of the main factors that go into the price of a policy:
- Age – The older you are the higher the premium cost will be.
- Smoking Status – Smokers typically pay more premium then non-smokers.
- Health Conditions – Pre-existing conditions make the premium on long term disability insurance more. They also may excluded for the first year.
- Waiting Period – Waiting periods range from 30 to 90 days and function similar to deductibles in health insurance. Longer waiting period = lower premiums, shorter waiting period = higher premiums.
PA Disability Insurance Quotes
Request a Pennsylvania Disability Insurance quote in Anaheim, Bakersfield, Chula Vista, Concord, Corona, Elk Grove, Escondido, Fontana, Fremont, Fresno, Fullerton, Garden Grove, Glendale, Hayward, Huntington Beach, Irvine, Lancaster, Long Beach, Los Angeles, Modesto, Moreno Valley, Oakland, Oceanside, Ontario, Orange, Oxnard, Palmdale, Pasadena, Pomona, Rancho Cucamonga, Riverside, Roseville, Sacramento, Salinas, San Bernardino, San Diego, San Francisco, San Jose, Santa Ana, Santa Clara, Santa Clarita, Santa Rosa, Simi Valley, Stockton, Sunnyvale, Thousand Oaks, Torrance, Vallejo, Victorville, Visalia and all other cities in PA.
The Pennsylvania Department of Insurance
The PA Dept. of Insurance is the regulatory agency behind the insurance rules for the state of Pennsylvania. If you want to understand these rules, then this is definitely the agency that you need to focus on. Let’s start with limits within the state.
Pennsylvania Minimum Insurance Limits
- For auto insurance, Pennsylvania requires $15,000 per person and $30,000 per accident.
- For life insurance, there are certain regulations in place to determine how someone is able to get or offer life insurance, but there are no limits listed.
- For commercial insurance, insurance agents may offer broker or casualty insurance as well as covered property insurance, covered causes of loss, specified perils and open perils along with a number of coverage forms like builder’s risk, legal liability, building ordinance, glass, peak season, inflation guard and peak element.
PA Insurance Regulations
As for regular insurance regulations there are a lot of things that Pennsylvania provides that you can look up. For example, there are deadlines for the insurer to pay the claim or deny it, deadlines for submitting paperwork to prove a loss for insurance reimbursement, specific information your insurance company is required to give you and regulations on what information you have to provide to your insurance company.
One of the Pennsylvania regulations calls for you to be treated by your insurance company in good faith. This means that your insurer must be considered of your needs and must communicate completely and honestly with you about your policy and everything that you need to know about it in order to make a good decision. In turn, you are legally obligated to be honest and cooperative with your insurance company when it comes to your claim.
You should also be aware that your insurance company is required to offer prompt, honest and complete communications. The company and all of its representatives must respond to your communications within 15 calendar days with a complete response based upon the facts that are known.
Finally, be aware that your insurance company is required to have a fair claims process. Unless it is specified in your policy, you do not have to use the forms that are provided to you by your insurance provider in order to make a claim. You can create a list of losses on your own if you need to. In addition, insurers are not able to ask for unreasonable proof of loss. If you provide photographic evidence or video of items that you lost, insurers are not able to ask you to provide additional information.
Different States Pennsylvania Disability Insurance
If you are looking for state specific Pennsylvania Disability Insurance insurance quotes, costs and information: