Can You Receive Disability Insurance When You Are 50?

Shawn Plummer

CEO, The Annuity Expert

Can You Receive Disability Insurance When You Are 50?

Yes, individuals who are 50 years old can receive disability insurance. The age limit for obtaining disability insurance typically extends up to age 60, and in some cases, certain insurance companies offer coverage up to age 70.

Eligibility Criteria for Disability Insurance at Age 50

  1. Age Limit: Most policies cover up to age 60 or 65. Some insurers extend this to 70.
  2. Health Status: Applicants must meet health requirements set by the insurer.
  3. Occupation: Certain high-risk jobs may affect eligibility or premium rates.
  4. Income Level: Disability insurance is often tied to your current income.

Examples of Disability Insurance Policies for Those Aged 50

  • Standard Policies: Cover up to age 60, providing a percentage of income if disabled.
  • Extended Policies: Some insurers offer coverage up to age 70, with varying terms and premiums.

Factors Affecting Disability Insurance for People Aged 50

  • Premium Costs: Premiums generally increase with age.
  • Benefit Period: The length of time benefits are paid can vary.
  • Waiting Period: The time before benefits begin after a disability occurs.

Conclusion

In summary, at age 50, you are eligible for disability insurance with most policies offering coverage up to age 60 or 65, and some extending to age 70. The costs, terms, and benefits of these policies vary, and it’s crucial to consider these factors when selecting the right insurance plan. Disability insurance provides financial security in the event of an inability to work due to disability, making it a vital consideration for individuals in this age group.

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Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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