Imagine how dramatically your life would change if you suddenly were unable to earn a paycheck due to a disabling injury or illness.
That’s why it's important to take the steps necessary to protect you, your loved ones, and your financial security if a disabling injury or illness occurs. Among the best protection is disability income insurance.
What is a disability?
A disability is usually defined as the continuous inability, because of injury or illness, to perform the material and substantial duties of your regular occupation or profession for a stated period of time, or any occupation or profession after that.
Employer provided coverage and social security benefits can be limited
Millions of workers have some disability income insurance through their employers. However, this is usually short-term coverage and may only provide benefits for 26 weeks. Longer-lasting disabilities are not always covered. In addition, if your employer pays for the coverage as part of a wage continuation plan, the benefit paid to you will be taxed as income.
Workers’ compensation insurance will cover work related disabling injuries or illnesses, but those that occur away from work activities are not covered.
If you don't have disability income insurance, you shouldn’t rely on Social Security disability payments either. There’s a chance you may not qualify; not all claims are paid. And if Social Security should pay your claim, benefits normally will not be paid until at least five months after your disability begins.
Find a solution that is best for you
Disability income insurance is designed to provide you money if you ever become disabled. That means money will be there when you need it most. It will help pay bills and meet other expenses associated with the disability.
Most disability income insurance policies can be designed to meet your particular needs. You usually choose among several benefit and deductible periods, and policy options.
For instance, we offer three benefit period options and five waiting period options. We also offer a waiver of premium payment. In addition, there are policy options for accidental dismemberment, cash value, cost-of-living adjustments, hospital confinement income, monthly benefit increase and removal of the benefit adjustment provision.
Guidance from a trained professional
Disability income insurance can help you achieve financial security regardless of your marital status or family situation. In fact, this insurance can replace a good part of the income you'd lose if you were unable to work because of an accident or illness.
Even if you have some form or disability income coverage, contact me for a review and more information regarding this coverage to ensure you and your family’s financial future is secure.
Policies issued by COUNTRY Life Insurance Company®, Bloomington, IL. Coverage not available in all states. Read our full disclaimer.
Policy series: DI500 and DI550. In Idaho, DI(500)(ID12/99) and DI550(ID12/99).