Disability income insurance provides income in the event you become disabled and unable to perform your work and earn money. I’ll explain the many options available to you so you can make the decision what’s the best plan for you.
In most cases the income is received tax free, so typically the mount of income you can apply for ranges between 60-67% of your current income.
You have many choices. How long you need to wait to file a claim? How long do you want to receive an income? The longer the wait, the less expensive it will be.
Many riders are available, such as waiver of premium, COLA (cost of living increases and residual benefits which will pay you a percentage of reduced income when back at work on a part time basis after a total disability.
A disability policy works well in the corporate world by providing funds to pay a key employee, or funding a business buy-sell agreement.
If you would like additional information or a no obligation quote, please contact me.