Disability Insurance

Disability insurance (also known as Loss of Income Insurance) provides income replacement when you can no longer work due to illness or injury. This is the most common insurance claim filed — statistics show that one out of eight people becomes disabled for at least three weeks annually.

Disability policies typically provide cash benefits that can range from one-half to two-thirds of your regular income.

Despite the strong evidence showing disabilities are not at all uncommon, most people do not plan for the possibility of suffering a debilitating accident or illness during their working years. Every working individual — but especially those supporting children or other family members — should consider some level of disability coverage a necessity.

There are two basic types of disability insurance each of which replaces up to 66% of your salary:

• Short-Term Disability
  Usually covers a 13-week or 26-week period.
  
  
• Long-Term Disability
  Typically begins 90 to 180 days after a disabling condition and lasts for 5 years or up to age 65.

For more information on Disability Insurance, or to find out whether your disability coverage is appropriate for your situation, e-mail us or call 630-236-7300.