Disability insurance in Tampa
Your income is what pays for everything else, including the other insurance. Disability coverage replaces part of it if an illness or injury keeps you from working, and it matters most for the people least likely to have it: the self-employed and anyone whose employer offers nothing.
Who needs it most
- You're self-employed, a contractor or paid on commission
- Your employer offers no disability plan or only a short-term one
- You're a physician, dentist, attorney or other professional whose income depends on a specialty
- You work a physical trade where an injury ends the paycheck
- You're the only earner in the household
- Your savings would last months, not years
What's offered
Long-term disability
Benefits that replace a share of income after a waiting period and continue for a set number of years or to retirement age.
Short-term disability
Coverage for the first weeks or months of a disability, often used to bridge to a long-term policy.
Own-occupation coverage
Policies that pay if you can't do your specific job, even if you could do some other work. Important for specialists and tradespeople.
Business overhead expense
Coverage that keeps a small business's rent, payroll and loan payments going while the owner is out.
Supplementing group coverage
An individual policy on top of a thin employer plan, which usually caps benefits and taxes them.
What affects the price
- Your occupation and how physical it is.
- Your age, health and income.
- The waiting period before benefits start, from 30 days to a year.
- The benefit period, from two years to age 65 or 67.
- Riders such as own-occupation, cost-of-living adjustments or future purchase options.
You see the premium and what the plan covers in writing before you apply. The insurer sets the rate and makes the final decision on your application.
Income protection in Tampa Bay
Florida has an unusually high share of self-employed workers and small firms, and no state short-term disability program the way a few states do. That leaves most Tampa Bay workers with only Social Security disability as a backstop, which is slow to qualify for and pays far less than most people earn. Roofers, electricians, boat captains, real estate agents and independent medical professionals all share the same exposure: the income stops the day they can't work. An individual policy bought while healthy is the fix, and it goes with you through job changes.
Common questions
How much of my income can be covered?
Typically 50 to 70 percent of pre-tax income. Because premiums on an individual policy are paid with after-tax dollars, the benefit is usually tax-free, which narrows the gap.
What's the difference between own-occupation and any-occupation?
Own-occupation pays if you can't do your job. Any-occupation pays only if you can't do any job you're reasonably suited for. Own-occupation costs more and is worth it for specialized work.
Doesn't workers' comp cover me?
Only for injuries at work, and only if you're an employee rather than self-employed. Most disabilities are illnesses that happen off the job.
How long until benefits start?
You choose the waiting period when you buy. A 90-day wait is common; a longer wait lowers the premium if you have savings to cover the gap.
Related services
- Term life insuranceAffordable coverage for the years a mortgage and kids depend on your income.
- Individual and family health plansACA marketplace plans for people without employer coverage, with the subsidy math done for you.
- Group benefits for small businessHealth, dental, vision and life benefits for businesses with 2 to 50 employees.
Areas we serve
Disability insurance across Tampa and these nearby communities: