Disability Income Insurance

 

Do I Need Disability Income Insurance?

For an individual age 35, the risk of a disability (lasting 90 days or longer) is three times more likely than premature death. If you are earning $50,000 per year and suffer a permanent disability at age 45, you stand to lose $1,000,000 in future earnings.

Disability Insurance

Disability insurance covers the loss of income in the event of disability resulting from accident or illness. Typical coverage is 60% of pre-disability income until the age of 65. If the covered individual pays the insurance premiums, then the disability payments are tax free.

Short term disability insurance is also available with coverage up to two years.

For more information on disability insurance, click on “consumer guide” below. After page appears click on brochure.

Consumer Guide for Disability Insurance

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