Live, Die or Become Disabled
There are only 3 options in life: You will live, die, or become disabled. Disability happens but many assume it won’t be them; it will be someone else. This is why disability insurance is among the most underutilized protection in the marketplace.
For those in their prime working years, if the income stops the plan is often derailed. You can wipe out years of savings without paycheck protection. It can get worse if a disability is severe enough to require chronic care.
Claim time is not the time to find out how good your policy is.
Most people with disability insurance have it through their employer. It is important to review this coverage to understand important features, benefits and limitations. One that is often overlooked is the definition of disability. If you have a broad definition, you might not have the protection you think you do.
How safe is your safety net?
Group plans may not cover all income due to caps and other limitations. Group coverage may not cover incentive pay or pay you as long as you are disabled due to an inferior definition of disability. If you don’t have group coverage, then individual disability insurance can protect you. If you have group coverage you may want to supplement it with a layer of individual coverage.
Our Integrated Insights™- Disability Review, will help you ask key questions for individual and group contracts, when you are reviewing coverage with your clients.