Disability Insurance

Protecting Your Income, Securing Your Future with Missel Sanchez

Your ability to earn an income is your most valuable asset. It’s what allows you to pay your bills, support your family, save for the future, and enjoy your lifestyle. But what happens if an illness or injury prevents you from working for an extended period? Most people worry about job loss, but the risk of long-term disability is far more common than many realize, and the financial consequences can be devastating, quickly eroding savings and jeopardizing financial security. As your dedicated insurance advisor, I, Missel Sanchez, at Missel Sanchez Insurance, understand the critical importance of protecting your income. My commitment is to guide you through the options for Disability Insurance, helping you secure a policy that provides a vital financial safety net, ensuring you and your family can maintain your financial well-being even if you can’t work.

Disability insurance, sometimes called “income protection insurance,” replaces a portion of your lost income if you become unable to work due to a qualifying illness or injury. This isn’t just for major accidents; common causes of long-term disability include chronic illnesses, back problems, heart disease, cancer, and mental health conditions. While Workers’ Compensation covers disabilities that occur on the job, disability insurance protects you from conditions that prevent you from working, regardless of whether they are work-related. For most people, short-term disability insurance might cover a few months, but long-term disability insurance is designed to provide benefits for many years, even up to retirement age, making it an essential component of a comprehensive financial plan.

There are several key components to consider when choosing a disability insurance policy. The benefit period determines how long you will receive benefits (e.g., 2 years, 5 years, to age 65). The waiting period (or elimination period) is the time from when you become disabled until benefits begin (e.g., 30, 60, 90, or 180 days); a longer waiting period usually means lower premiums. The amount of benefit typically replaces 50-70% of your pre-disability income, as benefits are often tax-free if you pay the premiums yourself. Crucially, the definition of disability is paramount: “own occupation” policies provide benefits if you can’t perform the duties of your specific job, while “any occupation” policies only pay if you can’t perform any job for which you are reasonably qualified. “Own occupation” is generally more robust but also more expensive. I help you understand these intricate details, ensuring you select a policy that provides meaningful protection tailored to your profession and financial needs.

For self-employed individuals, small business owners, and those without robust group disability benefits through their employer, individual disability insurance is particularly vital. Unlike group policies, which can be modified or terminated by an employer, individual policies are typically non-cancellable and guaranteed renewable, meaning the insurer cannot cancel your policy or increase your premiums (beyond what’s stated in the contract) as long as you pay them. This stability offers critical long-term protection. Even if you have some group coverage, an individual policy can supplement it, filling potential gaps in coverage amount or definition of disability. My role is to help you assess your current income, financial obligations, and any existing group coverage to determine the ideal level of individual disability protection you need.

Navigating the application process for disability insurance involves disclosing your health history, occupation, and income. Underwriters assess your risk, and being thorough and honest during this stage is essential. I guide you through this process, ensuring all information is accurately presented to facilitate a smooth application. Beyond simply obtaining a policy, my commitment extends to ensuring you understand how to utilize your policy should the need arise, explaining the claims process and what documentation will be required.

My approach at Missel Sanchez Insurance is deeply personalized. I take the time to listen attentively to your career goals, financial responsibilities, health history, and any existing benefits. Then, I clearly explain all your available Disability Insurance options, comparing policies from a wide range of reputable carriers, demystifying complex terminology, and patiently answering every question you have. My objective is to empower you with the knowledge and confidence to make an informed decision that truly secures your most valuable asset—your income. With Missel Sanchez and Missel Sanchez Insurance, protecting your financial future with Disability Insurance transforms from a potentially confusing challenge into a clear, straightforward path to lasting peace of mind.