Disability income insurance

What is disability insurance?

Your ability to earn a living and contribute to your household is likely your most valuable asset. Disability insurance replaces a portion of your income—or helps cover the cost of household services for stay-at-home-parents—should illness or injury prevent you from doing your job. We can help protect your income, and your family, with a disability insurance policy that’s right for you. 1 OUT OF 4 employees will be disabled for three months or more at some point during their career.

Who is disability income insurance for?

If you depend on the income you receive through work to pay your expenses, then you should probably consider disability insurance. It ensures that you can continue to receive partial income if you end up too sick or injured to work.

Disability income insurance provides supplementary income in the event an illness or accident results in a disability that prevents the insured from working at their regular employment. Benefits are usually paid monthly so the insured can maintain a comparable standard of living and pay recurring expenses.

How can disability income insurance fit into your plan?

It gives you money after an illness or accident. Whether you have short-term, long-term, supplemental, or individual disability insurance, all plans help protect your finances at a time when you may be at financial risk.

Protection for small business owners can help safeguard the key areas your absence would impact, including coverage for business expenses, safeguard your ability to pay business loans and protect your firm if your business partner becomes too sick or injured to work.

One in 5 working Americans have experienced at least one disability leave of absence during the past 10 years due to a condition, injury, or illness. The truth is that people of all ages, demographics, and professions have roughly the same potential to experience an income-disrupting injury or illness. More than 25% of today’s 20-year-olds can expect to be out of work for at least a year during their career because of a disabling condition.