What is disability insurance?

We are all familiar with what life insurance is and how it works. But many people are not aware of an insurance policy that pays out when you are still alive, but have become unable to support yourself and your family due to disability.

Disability insurance can give you peace of mind knowing that you will still be able to afford necessities should an accident or illness make it impossible for you to keep working. In general, a disability policy will pay out around 60 to 75 percent of your pre-tax income from before your disability, often excluding any bonuses you may receive from your employer. Obviously, this does not totally replace your income, but will go a long way toward keeping you as financially independent as possible, as an article on Yahoo explains.

Of course, as with any other form of insurance, the company that issued the policy is a business. The insurance company has the right under the terms of the policy to deny a claim for legitimate reasons. But an insurance company acting in bad faith will deny a legitimate disability claim simply to avoid living up to its responsibilities.

If you or a family member has filed a disability insurance claim, only to be denied for dubious reasons, you need an attorney to help you. Taking on a big insurance company can feel intimidating, but a lawyer experienced with bad faith insurance matters will help even the playing field, and give you the best possible opportunity to get the money you deserve.