Disability Insurance

Often overlooked, disability insurance can be one of the most important policies that we offer for groups and individuals. Many people purchase life insurance after giving thought to how their death might impact their family's living standards. However, few give the same consideration as to how an extended disability would impact their lifestyle.

The typical worker faces a much higher risk of extended disability than premature death. Disability insurance is designed to replace approximately two-thirds of your gross income.

Two important question to ask yourself are:

"If I am suddenly unable to work due to illness or injury, how would I pay for my daily living expenses or operating expenses for my business?" and

"If I become disabled, will my family be able to maintain their current lifestyle?"

The National Association of Insurance Commissioners reported in February of 2007 that "56% of U.S. adults surveyed are not able to pay their bills or meet expenses if they became disabled and could not work for a year or longer". It goes on to report, "a majority of Americans are unprepared for the financial impact of a disability".

Disability coverage is offered on an individual and group basis. Every disability insurance policy is different and it's important not to base your decision solely on premiums. After all, the odds of getting paid an adequate monthly benefit comparable to your monthly salary may vary greatly from one company to another.