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Disability Insurance

What is Disability Insurance?

Disability insurance is coverage that will replace a portion of your monthly income if injury and/or illness prevents you from working. It provides financial security for you and your loved ones who depend on your most valuable asset- your ability to earn a paycheck.

Popular Types of Disability Insurance

Long-term Disability Insurance

  • Pays out monthly if you become ill or disabled.
  • Benefit period can last two, five or 10 years, or even until retirement.
  • The monthly benefit can be up to 60% of your gross monthly income.
  • The cost is generally 1% to 3% of your yearly income.
  • Can be purchased individually or as a group benefit.


Short-term Disability Insurance

  • Replaces a portion of your paycheck- up to 80% of your pre-tax income if you become ill or disabled.
  • Benefit period is typically between three and six months.
  • Complements Long-term insurance policies.
  • Often offered by employer