Income Protection (Disability Insurance)
Secure your ability to earn an income, take care of your expenses and provide for those you love. A disability policy will help ensure better long-term financial security. Buy peace for tomorrow, today.
Average Cost
Varies by industry, typically 1-3% of income, annually
Requirements
Proof of income and employment, health evaluation and medical history
Benefit Period
2, 5, 10 or up to 65
Locations
Products available in all 50 US States
Why Disability Insurance?
Income Protection
Ensures financial stability by replacing lost income due to injury or illness
Safeguard Savings/Retirement
Prevents depletion of savings and retirement funds during a period of disability
Maintain Lifestyle
Helps cover everyday expenses like housing, bills, and food, so you can maintain your standard of living
Peace of Mind
Provides security, knowing you have a financial safety net if an unexpected disability occurs
Give Your Family
Peace of Mind, Today
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Income Protection (Disability Insurance) FAQ’s
Most policies cover between 50 – 70% of your income depending on the policy terms and the provider. Some people have more than onle policy for more coverage, but insurers will limit the total benefits due to overinsurance.
Independent policies may not be tax-deductible, but the benefits are usually received tax-free. Benefit amounts can also increase annually to keep up with rising costs of living.
Employer sponsored plans are great to have, but may come with limitations. These policies cover between 40-60% of your income and are taxed, which means a lesser benefit is paid. These policies could also have restrictions on benefit period and aren’t usually transferable. An employer sponsored plan is a good supplement to an independent one.
Policies can be designed with the idea of income increasing over time, and thus can customize a policy to have the benefit amount increased annually. Additional policies can be purchased as well, especially for a job change or significant pay increases.