Approximately 1/3 of us will suffer a disability that lasts longer than 90 days before we are age 55. Incorporating this likelihood into your financial planning is essential.
Disability income insurance provides supplementary income in the event of an illness or accident resulting in a disability that prevents the insured from working at their regular employment. Benefits are usually provided on a monthly basis so that the individual can maintain their standard of living and continue to pay their regular expenses. Various factors must be considered regarding the level of benefits needed and type of plan structure. Many people have some disability insurance at work and will need to build a plan that coincides with that coverage.
There are now life insurance plans that also offer disability benefits. These plans, because they reduce some costs for the insurance company with regard to underwriting and policy maintenance, can be very efficient for people who need both life and disability insurance benefits.
Contact us to determine the level of insurance you need and the most efficient way to obtain coverage.
Disability Insurance Calculator
