Disability Insurance
Disability insurance helps protect you , your family or Business when unexpected illness or accident. unables you to work and earn an income.
Disability insurance can replace between 60% and 85% of your income for a specified time if you:
- Temporarily cannot work.
- Permanently disabled due to an injury or illness.
Permanent refers to the nature of the disability. It does not mean that you will get benefits for the rest of your life.( The maximum length of permanent disability benefits depends on the severity of the disability and the insurance policy )
Some employers offer disability insurance. However, disability insurance plans are also available through a life and health insurance agent.
If you're self-employed, you may want to consider getting disability insurance. It will cover many of your business expenses if you are unable to work.
The Bottom Line
Disability insurance serves as a crucial safeguard for both you and your family or business against unforeseen illnesses or accidents. It provides vital protection in the event that you are unable to work and earn an income.
Utilizing an insurance broker can be highly beneficial in navigating the complexities of disability insurance. Brokers have expertise in the field and can help you find the most suitable coverage at competitive rates. They provide personalized guidance, ensuring that you fully understand your options and can make informed decisions tailored to your specific needs and circumstances.