Disability Insurance

“But the chances of me needing disability insurance are low…”

Posted on by McGriff Williams in Disability Insurance, McGriff-Williams News |

Have you ever thought or said to yourself that you don’t NEED disability insurance? Think your job is low key enough that injury or illness couldn’t ever limit you from working? Do you feel like you’d be able to manage paying for your lifestyle and bills with no income, even just temporarily?

These are all valid questions and pretty important ones to spend some time on. Of course like all insurance, disability (or income replacement as some may refer to it as) is protection against the unknown and a bit of a gamble. But similar to life insurance, it’s peace of mind for your spouse or family or even just yourself that in the event you are sick or hurt in a way that you’re unable to work, you can still have some financial means to cover your obligations.

Before you can decide if you need this protection, you need to understand what your options are. There are two main types of disability insurance:

  • SHORT TERM
    • Covers 40-60% of your base salary
    • Can last from a few weeks to a year
    • Short waiting period for coverage to kick in
  • LONG TERM
    • Covers 50-70% of your base salary
    • Benefits are much longer, typically to age 65-70
    • 90 day waiting period after onset of disability

We challenge you to check out these facts about disability and ask yourself honestly if you still believe you don’t need it:

  • More than 1 in 4 of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before reaching retirement age (Social Security Administration)… 1 in 4!
  • Many households would struggle to cover even a few months of living expenses with no income
  • Most long-term disabilities are caused by illnesses such as cancer, heart disease and arthritis, not accidents
  • Without income protection, recovering financially from a long disability can take years

If insurance can be required to cover material things such as your home and car, you really should consider your paycheck something worth protecting too.

Benefits of Auto Pay for Your Insurance Premiums

Posted on by McGriff Williams in Auto Insurance, Blog, Disability Insurance, Health Insurance, Home Insurance, Life Insurance, McGriff-Williams News |

We currently happen to be in a time of uncertainty with some businesses temporarily closing or being short staffed due to Covid-19 social distancing recommendations. One of the concerns that has developed is people still being able to pay their bills, such as insurance premiums.

Thankfully, most insurance carriers accept payment either online or via an automated phone system but Auto Pay could alleviate any worry or doubt you might have about these payments being processed correctly and on time. There are several benefits to Auto Pay, depending on what type of policy it is.


– When it comes to life or disability insurance, a lapse without timely reinstatement could mean that you will now require an underwriting review, sometimes involving medical evidence or you could even have to secure new coverage at your current, older age and possibly lesser health.


– For a health insurance policy that cancels due to late or non-payment, it cannot be reinstated at all and you would be left without coverage until the next open enrollment period for the following year. Scary, right?!


– For auto or home insurance, it would depend on the company if they were willing to reinstate or rewrite the coverage. The biggest risk here is that something detrimental and very expensive could happen in that lapse period where you would have no coverage at all.


Auto Pay is convenient, yes. It saves paper and printing costs, yes. It’s peace of mind and one less thing to worry about, yes. But it’s also imperative for maintaining some pretty important coverage. This is coverage that you may not be able to get back if you elect to receive a paper bill that gets lost or doesn’t get paid. An Added bonus is cost savings as well you can almost always save on installment fees by going this route.


If you’re able to arrange Auto Pay either through EFT (electronic funds transfer from a checking account), recurring credit card, online bill pay with your bank, or whatever options there are it’s definitely the safest way to ensure that your coverage will not be interrupted or affected.


If you have questions about a specific policy or company that we work with, please let us know anytime at info@mcgriffwilliams.com or (352) 371-7977.

Would your bills be covered if you were unable to work?

Posted on by McGriff Williams in Disability Insurance, Insurance |

Often times, people underestimate the issues they may face if they’re out of work and their paycheck stops. Income Protection coverage could be a huge help if you have it.

You probably have an insurance policy in place to cover your home, your car, your liability, even your life but what about your income? Disability Insurance can help replace a portion of your paycheck if you are faced with an injury or illness that makes you unable to work. And unlike most insurance policies that pay the benefit directly to a provider or company, Disability Insurance is paid to YOU.

According to the Social Security Administration, more than one in four of today’s 20-year-olds can expect to be out of work for at least a year because of a disabling condition before reaching retirement age. One in five Americans (that’s over 60 million people!) live with a disability of some kind and one in ten of those disabilities is severe.

Speaking of Social Security, there are benefits there but tend to be rather modest. Social Security Disability Insurance payments are often far less than a regular paycheck (see ssa.gov for current figures). Rest assured, you have options. Many employers that provide employee benefits offer short term and long term Disability coverage and typically at pretty competitive rates. However, there could be stricter guidelines or limitations when provided by an employer. You can also elect to purchase individual Income Protection coverage and protect a greater amount than you think.

You may not be able to predict the future but having a plan in place will make it much more pleasant for you and your family. As always, please reach out to us with any questions at (352) 371-7977. We are happy to help and want you to feel as comfortable and protected as possible.