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What is disability insurance?

Disability Insurance provides you with financial security when an accident or illness causes you to be disabled and unable to work or earn an income.


What is disability insurance?

Disability insurance replaces a portion of your income. Policies differ on how soon you collect benefits and for how long. They also vary in whether disability benefits are received if you can’t perform the duties of your own occupation, a job in your field, or any job at all.

A disability can affect your personal income and the security of your business operations. A life insurance benefit is usually payable in a lump sum, and this payment ends the contract. Disability insurance benefits are almost always payable on a monthly basis, while disability continues. Upon recovery from a disability, the policy continues. Benefits could potentially be payable again for subsequent disabilities or for the recurrence of a prior disability.


What benefit do I get from having disability insurance?

Most people are unaware of the startling disability statistics. Often they have purchased life insurance to protect their families in the event of death.

In fact, the odds are far greater than a person will become disabled in a given year than that he or she will die. Up to the age of 37, the chance of suffering a disability of at least 90 days is eight times as great as the chance of death. While death may be inevitable, disability is more probable at any given age.


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