A disability income policy can provide an income if you are disabled by illness or injury and can no longer work. When your healthy, it's hard to imagine being disabled, but statistics show that before age 65, one in three Americans will become disabled for 90 days or more. The average disability absence is almost 30 months. And the worst part, more than 80% of Americans either don't have a disability policy or are inadequately insured.

How long can your personal savings sustain your families lifestyle? Chances are, if you are like the majority of Americans, you do not have enough savings to pay your bills for an extended period. Do you think Social Security or worker's compensation will pay your bills? To qualify for Social Security payments, you have to be unable to work in any type of occupation and disabilities must be expected to last at least 12 months or end in death. Worker's compensation only pays for injuries sustained on the job, not sickness or off-the-job injuries. And worker's comp payments are short-term and generally low.

The Best Defense is a Good Offense: Plan Now for a Secure Future

That is where disability income steps in. Disability is considered either "own occupation", which is when you are unable to perform the duties of your specific occupation, or "any occupation", which means you are unable to perform any job for which you are trained or qualified. Benefits are generally fixed monthly, but you can purchase extra coverage or cost of living increases. There is generally a waiting period between the time you become disabled and when you can begin receiving benefits. Generally, the longer the waiting period you choose, the less the policy costs. The benefit period can range from six months to the rest of your life, depending on the type of policy you choose.

If you would like more information on how a disability income policy can help you, contact us at 800-627-2241.