Disability Income Insurance

If you're like most people, you depend on your paycheck to pay your monthly living expenses.

But what would happen if you had a disabling accident or illness and could not work?

How would you...

replace your income? make your monthly rent or mortgage loan payments? buy your groceries? make your car payments? handle the rest of your day-to-day living expenses? provide for your children's education? save for retirement?

Most people don't realize the risk of becoming disabled, permanently or temporarily, at some point in their lives. But the reality is...

If you are now age...	The risk of becoming disabled for over 30 days before age 65 is...
25	77%
30	75%
35	72%
40	69%
45	64%
50	58%

Source: 1985 Commissioner's Disability Income Table

When evaluating the chances of disability, you should carefully consider sources of available funds:

My employer covers me: How long would the business continue to pay you? How much would it pay you? When would your employer have to hire a replacement? Could the business afford to pay both?

I'll use my savings: If you saved 10% of your income each year, one year of total disability could wipe out 10 years of savings. Can you afford that?

I'll get a loan: Without an income, who will lend you money?

My spouse works: Can your spouse earn enough and be partner, parent, private nurse, and employee -all at the same time?

I'll sell my investments: Will a sale under forced conditions bring a true value? What will their value be at the time you are disabled?

I can collect Social Security: You cannot collect benefits until the end of the fifth full calendar month of total disability and only if it is expected to last 12 months or more. What will you do if your disability doesn't meet those requirements? Even if it does, can you wait six months for payment?

I'll count on family, friends, or charity: Would these sources have funds for you to use? Do you want to depend on them?

Make a plan for income replacement

A Disability Income policy can help keep you financially stable during difficult times by paying a monthly income, directly to you, when you are sick or hurt and unable to work. It is great as a primary income replacement plan or as a supplement to your salary continuation or group disability plan.

You have the option to choose the combination of coverage that best meet your needs by selecting: The amount of coverage you need - flexible monthly benefit options. The length of time you must be disabled before benefits begin - 60, 90, 180, 365, or 730 consecutive days. The length of time benefits are paid to you - one year, five years, or to age 65.