818.878.7800
Disability Insurance
When
an illness or injury leaves you unable to work for an extended length
of time, you lose the ability to earn an income while your financial
obligations remain intact. It may become difficult to provide an income for yourself and near impossible to continue supporting a family. With the inability to work, how can you
possibly continue to pay for your mortgage, rent, car, food, and all
other necessities?
Your ability to earn an income is your most important asset. By insuring your income, you are protecting yourself against financial devastation in the case of an illness or injury. Whether you become too ill to practice, or break your leg while hiking or skiing, you can rest assured that you will continue to receive a monthly income check at the time you need it most. Disability insurance is specifically designed to protect our way of life.
Your ability to earn an income is your most important asset. By insuring your income, you are protecting yourself against financial devastation in the case of an illness or injury. Whether you become too ill to practice, or break your leg while hiking or skiing, you can rest assured that you will continue to receive a monthly income check at the time you need it most. Disability insurance is specifically designed to protect our way of life.
How Disability Insurance Works
Individual disability insurance is designed to replace approximately 55-65% of your income with tax free benefits. Benefits may be collected if you are unable to perform the duties of your specific specialty. Once a disability occurs, there is an elimination period which must be satisfied before benefits are payable. The most common elimination period and often most cost effective is 90 days. If you are totally disabled, you may collect your full monthly benefit. In
the event you can only work part time within your specialty, your
policy should be capable of providing partial disability benefits. You may continue to receive benefits up to age 65 or 67 and lifetime benefits are available in certain states.
Please select a topic of interest below:
"Three in ten workers entering the workforce today will become disabled before retiring."
Social Security Administration, Fact Sheet 2007
"Over 90% of disabling accidents and illnesses are not work related."
National Safety Council, Injury Facts 2004 Ed.
"Unexpected illnesses and injuries cause 350,000 unexpected bankruptcies each year."
Illness and Injuries as Contributors to Bankruptcy, Health Affairs, February 2, 2005