If you became ill or injured and couldn’t work, how would you pay your bills? Would you be able to maintain your standard of living? Protect yourself and your family with disability insurance, which replaces a portion of your income when you are unable to work. Both Long-Term and Short-Term policies are available.

When are you considered disabled?

The definition of disability varies depending on the policy purchased. For example, some plans pay when you're unable to engage in your own occupation, while others pay when you're unable to engage in any occupation for which you're reasonably suited based on your training or experience. Many disability plans require that you not be gainfully employed while you're collecting benefits.

When Will Benefits Start Accumulating?

Most long-term disability plans have a waiting period before benefits begin accumulating. The most common waiting period is 90 days, however 60, 180, 365 and 730-day waiting periods are also available. The length of your waiting period should be determined by asking yourself how long you can go without a paycheck. Longer waiting periods offer lower premium payments.

You normally should plan on replacing at least 60% of your net (after taxes) pay, and preferably 80% if you can afford the additional coverage.

 What additional benefits are available?