Disability Insurance – Income Replacement

Your ability to earn an income is quite simply your biggest asset.

During a disability, household bills still need to be paid. Disability Insurance provides a benefit, usually 60-70% of the annual salary, in the event the insured becomes disabled and is unable to work. There are various types of disability coverage, ranging from policies that will only pay benefits if you are unable to work at any job, to policies that will pay benefits provided you are unable to perform the duties required for your regular job. Many employers offer their employees group disability insurance coverage. However, self-employed individuals or individuals who are not covered through their employer should ensure that they have adequate insurance coverage to continue to pay their costs of living while they are unable to earn an income.