Disability Insurance
Accidents and long-term illnesses can put you out of work for an extended period of time, risking your financial stability. Yet many workers don't consider this possibility until it's too late. Disability insurance provides a safety net when you're unable to work for an extended period of time due to injury or illness.
Individual Disability
 Individual
Disability Income Protection is a must for a business owner, and
highly recommended for executives. If you are a business owner, you
should consider purchasing both group and individual policies, if
possible. As an executive, you should be sure to obtain group coverage
if it is available. Only forty three percent of large companies
provide group long term disability insurance.
Your chances are even less likely to get long term disability insurance
if you work for a small company. The cost of a plan provided by your
employer is usually less than you would pay for an individual disability
policy and often you can get coverage automatically without having
to qualify medically. If your employer doesn't provide disability
insurance then you may want to consider an individual disability
policy.
Or, you may need a personal disability insurance policy to supplement
an employer group plan. Be sure to check the group provisions carefully:
How long does the group disability insurance coverage last? How much
is the benefit? Does the disability insurance policy cover bonus
and commission income? Will the coverage continue if you leave that
employer?
A typical Individual Disability Income Protection plan starts to
pay benefits after you have been off work for 1 to 6 months, and
pays benefits for several years or until retirement age, depending
on the policy.
Individual Disability
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Group Disability
Long-Term Disability (LTD)
In the event that an accident or illness prevents an employee from
working for an extended period of time, the financial impact can
be severe for the employee and employers. Long Term Disability (LTD)
protection is designed to help cover the employee's expenses while
their regular income is interrupted. Flexible plan design options
and benefit alternatives are available to meet specific needs. This
valuable protection is available with low-cost, tax-deductible premiums.
Group Disability Insurance
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Short-Term Disability (STD)
A steady income is essential for most people. If an accident or
illness interrupts that income, it affects both the employee and
employer. Short Term Disability (STD) protection is designed to replace
a portion of the wages lost when a short term disability occurs.
An affordable, flexible STD plan can provide needed benefits to both
the employer and employee.
Group Disability Insurance
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