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
Amanda Rydlewski
Consultant & Notary
Rhonda Alden
Consultant