DISABILITY INSURANCE
Income Protection That Works When You Can’t
What Is Disability Insurance?
Disability insurance provides income replacement if you become unable to work due to illness or injury.
It helps protect your financial stability by covering everyday expenses like mortgage payments, bills, and groceries when you can’t earn a paycheck.
Why It Matters
Nearly 1 in 4 working-age adults will experience a disabling condition before retirement, making disability insurance a crucial safeguard for your income and lifestyle.
Basic Qualifications
To qualify, you typically must be actively working and meet the insurer’s definition of disability—usually the inability to perform your own occupation or any occupation, depending on your policy. Policies vary in waiting periods and benefit lengths, so it’s important to choose one that fits your needs.
Self Employed/ Entrepreneurs/ Business Owners
If you’re self-employed, entrepreneur or business owner your income stops the moment you can’t work. A sudden illness or injury could put your business, clients, and finances at risk.
- Your paycheck stops, but your bills and responsibilities don’t.
- Without coverage, you could be forced to borrow money or run up debt just to survive.
- Missing just a few payments could put your home or car at risk.
- Are there any exclusions or limitations I should know about?
- Can I adjust the benefit amount or coverage over time?
Top 5 Questions to Ask About Disability Insurance
- What definition of disability does the policy use? (Own occupation vs. any occupation)
- How long is the waiting period before benefits begin?
- How long will benefits be paid if I remain disabled?
- Are there any exclusions or limitations I should know about?
- Can I adjust the benefit amount or coverage over time?