Disability insurance, sometimes referred to as income protection, is exactly that Protecting your ability to earn a living. If you become disabled, you’ll receive payments (based on your particular policy) from your insurance company. This check will help you continue paying living expenses such as rent, mortgage, car payment, food, insurance, utilities, medical expenses and more. You could also have additional medical costs associated with your disability that medical insurance will not cover. Suffering a disability is devastating enough physically and emotionally. Do not add financial devastation to an already stressful situation. Anyone who relies on their ability to earn a living should purchase disability insurance.
When choosing Disability Insurance Plans, there are many options:
– Individual Disability, for Individual, Partners, Key Employees
– Business Expense Protection, for overhead expenses to be paid upon a Disability
– Group Short Term Disability paid thru business by the employer.
– Voluntary Plan, where the employee pays for the premium thru payroll deduction
– Group Long Term Disability paid thru employer.