Preferred Financial Group

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"How Do Premiums Compare Between Accident Only And Accident & Illness Disability Insurance?"


As you will see there is a substantial difference in premiums between Accident Only and Accident & Illness disability insurance. The difference is primarily theresult of the cause of disability. As the name implies, an Accident Only policy provides protection to the insured from disabling-accidents if you are unable to work irrespective of how or where the accident occurred or who was at fault. The Accident & Illness policy has a more broad definition of disability which includes illness as well as an accidental cause.


No surprise here, the differences are substantial. However, this is a comparison between two very different coverages both of which provide vital elements of disability insurance protection. Oftentimes, the decision is made on affordability.