Disability Income Insurance

If you suffer a disability that keeps you from working, disability income insurance can protect you from excessive financial losses.

What Is Disability Income Insurance

Disability income insurance provides insured individuals with income when they can no longer work because of an accident, injury, illness, or disability.
- Disability income insurance is available through Social Security, employers, and insurance companies.
- Disability income insurance comes in short-term and long-term forms.

Disability income insurance doesn’t guarantee you your entire regular income. It replaces between 45 and 65 percent of your gross income.
To keep your coverage active, you must pay premiums.
- The more you earn, the higher your premiums.
- Benefits are tax-free because after-tax dollars are used to pay premiums.
Disability income insurance policies do not coordinate with Social Security. Instead, they pay in addition to it.

Many policies have waiting periods that must pass before you can receive any benefit payments.
Once your benefits kick in, you can expect your plan to pay benefits for two, three, five, or 10 years.
- Some plans pay up to a certain age, or for the rest of your life.

Short-term disability income insurance – Provides coverage for time spent away from work for a short period of time.
- Most short-term policies have a zero to 14 day waiting period.
- Benefits may only be paid for a maximum of two years
Long-term disability income insurance – Provides coverage for individuals who experience lengthy or lifelong disabling events.
- Waiting periods range between a few weeks to several months.
- Maximum benefit periods range from a few years to the rest of the insured’s life.

Call Marketing Financial at 417-831-4431 Today.