The ability to earn an income is the single, most valuable asset of any individual during their working years. Yet, Disability Insurance is often overlooked in many financial plans. Some people may completely ignore the financial devastation that would result from a disabling injury or sickness.
Disability Insurance is a living benefit product designed to provide a monthly benefit to an insured that is unable to work due to an injury or an illness. The benefit amount is usually a percentage of income, which can be gross or net, depending upon the type of contract and the company chosen. This income will be paid for a specific time period after a covered illness or injury occurs and the disability continues. The Disability Insurance must be purchased prior to the injury or illness.
Persons who have jobs that does not provide a group disability insurance plan or would like to complete or improve their actual group disability insurance: