Would you be able to survive financially (meet your obligations) without your income?
Although most of us are aware of the need for health insurance coverage when determining our risk-managing needs, many fail to consider the possibility that we could become disabled. Disability Insurance can help replace lost income due to an illness or injury. We can help customize a policy to meet your specific needs and budget.
What are a few key features of Disability Insurance?
- Monthly Benefit Amount
- Elimination Period
- Benefit Period
- Residual Benefit
- Catastrophic Benefit
- Cost of Living Rider
- Future Benefit Increase
- Benefit Update Riders
- Recognition of Occupation
According to the Centers for Disease Control and Prevention, one out of every five adults experiences a disability.
In the event you become disabled and are unable to work, the benefits provided by Disability Insurance can help replace a portion of your earned income. In most cases, you will want to have a policy that will cover at least 60 percent of your income. This may be a stand-alone, Long-Term Disability plan, or a combination of employer-provided and a personal policy. In most cases you do not want to rely on employer-provided coverage as benefits are taxable to you and often times are insufficient. Disability Income Insurance protects your greatest asset; your ability to earn an income.