Disability insurance 101 – How much does disability insurance cost?

Kraig:​Hey there, it’s Kraig Strom with, coming to you again from my backyard. Got my humming bird feeder, right over my shoulder. I put that up a few weeks ago and the humming birds have been getting closer and closer to us. So, we’ve actually stood face to face today. See if maybe they’ll come into the picture while I’m recording a post.

So, today’s post, continuing Disability Insurance 101 and today’s lesson is, “How much does disability insurance cost?” The honest answer to that is, “I don’t know. I have no idea.” Every single person that I sit down with to talk about disability insurance is different. They’re unique. They might have a different profession. They might have a different height. They could be tall, they could be short. They could be large. They could be skinny. There’s all kinds of different criteria that go into what is your disability insurance cost? Are you a snorkeler? Or do you go all the way and do you scuba dive? Or do you race cars or bikes on weekend?

​Is your job specifically dangerous? Are you a police officer? Or are you a roofer? Are you up on a roof all day long? Okay? There’s all the criteria that goes into figuring how much does disability insurance cost. But here’s the bottom line, the very most important thing you can do, is simply get a quote and then go through the application process. How much does it cost to put in an application for disability insurance? Zero. It doesn’t cost anything to put in an application. A little bit of your time and you go through the underwriting process. They get a big fat application that we fill out. You get a bunch of signatures. You got to answer health questions. But really it doesn’t cost you anything other than a few minutes of your time when you think about it and the insurance company will chew on your data. They’ll look at all your data. They’ll look at your taxes. They’ll look at how much money you make. They’ll look at your health. They’ll look at your family history. All those things and they’ll come back and give you an offer. That’s really what—that’s the time that you’ll actually have an opportunity to know how much disability insurance cost. Until you go through the underwriting process and the application process you will not find out what disability insurance or any other insurance; like life insurance for example, costs. There’s no way to know what it will cost for you specifically.

So, Disability Insurance 101 today; the application and underwriting process is the only way that you can actually find out how much disability insurance cost and once you get an underwriting offer, you can choose how much disability insurance to get. You can choose what kind to get. You can start small. You can start big, but you can choose. The only way you can do it is to actually get a quote and then go through the full underwriting to find out what the insurance company has to say about you.

So that’s the lesson from the—well, I just noticed right over my shoulder. Hopefully you’ve been seeing them over there. We’ve got hummers on the bird feeder. So, yet another message, Disability Insurance 101 brought to you courtesy of my paycheck, because without it, I wouldn’t have this cool iPhone, camera mount here that allows me to swing around and zoom in on those humming birds and move around. Without all that, without my paycheck I mean, I wouldn’t have all this. I wouldn’t have a nice home here. I wouldn’t have been able to spend the day at the beach with my daughter. So remember Disability Insurance 101; the only way to find out how much your disability insurance cost is to actually go through the underwriting process and it doesn’t cost anything to do it. I’ll see you again.

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