Disability Insurance

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Your ability to earn a paycheck is one of the most significant assets that you have. Expenses often increase due to disability, while income is drastically reduced. If you’re unable to continue to earn your income because of illness or injury for any period of time, your family’s financial plans could be ruined.

Disability insurance companies won’t sell you an insurance policy to replace all of your income. However, they do sell policies that go up to about 70% of your current income. If you don’t have at least 70% of your current income provided through your employer’s disability insurance plan, you should obtain supplemental coverage to bring you up to 70%.

If you currently need all your income to provide your standard of living and achieve your financial goals, you’re going to have trouble making ends meet if you only bring in 60% to 70% of your current income. What typically happens in real life is that people must make drastic lifestyle changes— unless you obtain as much disability insurance as you can get.

Carriers offer many short and long term disability options which can be affordable based on the desired coverage amount, your occupation and elevation period. Contact us to see what solutions we may be able to offer you.

The chances that you will need disability insurance may be greater than you realize Consider these statistics:

  • Someone suffers a disabling injury every 9 seconds
  • Almost 73% of disabling injuries occur off-the-job
  • Nearly 50% of all personal bankruptcies and mortgage foreclosures are attributable to debilitating injuries and illnesses