What is Disability Insurance?
Disability Insurance is the industry name for a plan that provides for periodic payments of benefits when a disabled insured is unable to work. The insurance product is designed to replace anywhere from 45 to 65% of your gross income on a tax-free basis should illness keep you from earning an income in your occupation.
If you’re unable to work due to a sickness or injury, Disability Insurance can help cover your essential living expenses. It can help you pay bills like your mortgage, tuition and car payments, and help cover expenses for food, clothing and utilities. By replacing a portion of your income, Disability Insurance can help protect your financial security until you get back on your feet and return to work. It does not: Cover medical care or long-term care services.
10 Essentials of Disability Insurance
1. If you or others depend on your income — you need it.
2. Disability insurance replaces a portion of your income when you can’t work.
3. Most long-term absences are due to illnesses, not accidents.
4. You need it even if you’re young and healthy.
5. The risk of a disability during your working years may be greater than you think.
6. A good rule of thumb is to protect 60-80% of your after-tax income.
7. Some disability insurance is better than no disability insurance.
8. Make sure you know how much disability insurance you get at work.
9. There is no substitute for good advice.
10. The financial strength and reputation of the company you buy from matters.
If you have any questions on polices or have additional questions before get a free quote, please contact our offices today.
403 N. Freeman Street
Oceanside, CA 92054
Email: email@example.com or firstname.lastname@example.org
CA License Number: 0C175088