Are You Protected?

Your income is the driving force behind all the plans you set in motion, from buying your first home to saving for retirement. Should you experience a disabling event such as an accident or illness, it could affect your ability to earn an income and pose a risk to your short and long-term financial goals.

Many individuals may rely on Social Security Disability Insurance (SSDI) or Group Disability Insurance to replace their income if a disability occurs. A Group Disability Insurance policy, often paid for by your employer, will typically cover only 40-60% of your pre-disability salary. In addition, the total benefits you are eligible to collect is often limited by a benefit cap.

• 30% of Individuals ages 35 to 65 will experience a disability that lasts for at least 90 days.
• 15% of those individuals will remain disabled for at least 5 years.

If you are looking for additional income protection, consider adding a supplemental policy on top of the group coverage you may already have. It can be a great add-on if you would like to protect a greater percentage of your income, bonuses, commissions or other incentives. It will help cover the difference between what you will receive from your current policy, and what you may need to maintain the lifestyle you are accustomed to, should you become unable to work due to a disabling event.