Income Replacement Insurance
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Income Replacement Insurance Information
What would happen if an accident or illness prevented you from working? For most of us, our lifestyle is dependent upon the family breadwinners' income. Disability income insurance provides replacement income if you're unable to work due to an illness or injury.
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Insuring against disability has not been a high priority for most workers, because many assume they are already covered through Social Security, workers' compensation or employer plans.
It can happen to you.
Nearly one in four men can expect to suffer a disability that keeps them out of work for 90 days or longer at some point during their working years. For women, the odds are about one in three. Moreover, one in seven workers can expect to be disabled for five or more years before retirement.*
What is the benefit of having disability income insurance?
One of your most valuable assets is your ability to earn a living. Take away your income, and it is amazing how quickly you can deplete savings and even incur large debt just trying to cover your regular monthly expenses.
Another advantage is that unlike an employer-paid group long-term disability (LTD) plan, an individual DI insurance product is "portable." That means you own the policy, and it stays with you even if you change jobs.
Coverage for individuals
Individual policies are available for people in all types of occupations. Whether you're a doctor, cabinetmaker, executive, teacher or technician, we can design a disability income policy to meet your needs and budget.
Coverage for small-business owners
There are two types of disability income policies to protect small-business owners and their companies.
Business Overhead Expense (BOE) reimburses businessowners for the expenses necessary to keep their company running upon the disability of any of the owners.
Business Buy-Sell provides the funds to effect an orderly transfer of ownership in the event of a business co-owner's disability.
Protect your income
Disability Income insurance products can provide the funds to protect your lifestyle should you suffer an unexpected illness or injury. Our policies are industry leaders, with strong contractual definitions, competitive features and pricing.
How much disability income insurance do you need? Give us a call today for your personalized review and quote.