Individual Disability Insurance

If you are like most people, you seldom give thought to what you would do if you suddenly became ill or suffered an injury which prevented you from working and earning a paycheck. Sure, you have health insurance, even life insurance but what about disability insurance? If you can’t work because of a sudden illness or injury, how would you pay your bills and support yourself and your family? Disability insurance replaces a portion of your salary if you become disabled and cannot work. Disability insurance is part of the foundation of any professional financial plan. Should you suffer a long term disability that lasts 90 days or more, the odds are that you will be disabled for more than three years.

According to the Health Insurance Association of America, about 30% of Americans age 35 to 65 will suffer a disability lasting at least 90 days sometime during their careers. Statistically, one in four people who file for bankruptcy cite an illness or injury in their family as the major reason for the bankruptcy. According to the US Housing and Home Finance Agency only 3% of home mortgage foreclosures are due to the death of the breadwinner. 48% of all foreclosures are due to a disability.

Get the Facts

Disability insurance policies vary widely based on the issuer and the state in which you live. Contact one of our qualified agents who can thoroughly explain the various policy provisions, costs and benefits including the following questions:

• What is the highest percentage of income that can be replaced?
• Does the premium stop once a claim is filed?
• How long can a person draw the disability income?
• Does the policy include a restoration of benefit?
• Does the policy pay for education expenses if it is necessary to qualify for a new job?
• What happens when a person becomes eligible for medicare?
• Does the policy have a conversion factor?
• Is a return of premium rider available?
• Is there a waiting period before benefits can begin to be paid?

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