disability insurance agent

Ask yourself a question: What is your biggest asset? Is it your business or your home?

Or is it your ability to generate income?

Disability insurance replaces a portion of your income in the event of an accident or illness i9f you become unable to work.

The Social Security Administration concluded that 25% of healthy twenty five-year olds today will be out of work for at least one year because of an illness or injury before they turn 65.

How Does Disability Insurance Work?

If you get your own disability insurance policy, you will pay approximately 1% to 3% of your annual income in premiums. The price of your policy is determined by several factors, among others your business, income, age, current health and if you smoke.

A short-term disability insurance has an elimination or waiting period usually of 90 days, and lasts for a shorter period of time.

A long-term disability insurance policy covers 40% to 60% of your salary for a more extended period of time. However, the waiting period for a long-term disability insurance policy might or might not be larger.

What Are The Benefits of Getting Your Own Disability Insurance Plan?
  • Even if your employer offers a disability insurance plan, you should still consider signing up for a personal policy to increase your amount of coverage. In addition, when you get your own policy separate from your employer, your income replacements are tax-free.
  • If you don’t have a total disability issue, you might not be covered by Social Security. With your personal policy you will still get covered.
  • You will have peace of mind that no matter what happens, you will be prepared and will have financial security.
Interested in Learning More About Disability Insurance?

If you would like to learn more about disability insurance (DI), please contact me.

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