Wholesale Jerseys Wholesale Jerseys China NFL Jerseys China Cheap Jerseys Free Shipping Cheap NFL Jerseys China
Wholesale Jerseys Wholesale Jerseys China Cheap NFL Jerseys China Cheap NFL Jerseys Free Shipping Wholesale NHL Jerseys China Wholesale Jerseys From China Cheap NFL Jerseys Free Shipping Cheap NFL Jerseys For Sale Cheap Jerseys Free Shipping Wholesale NFL Jerseys From China Cheap NFL Jerseys Sale Cheap Nike NFL Jerseys China Wholesale Jerseys Free Shipping Cheap NFL Jerseys Wholesale Wholesale NFL Jerseys Online Cheap NFL Jerseys Wholesale China Jerseys Wholesale NFL Jerseys China Cheap Jerseys Free Shipping Cheap NFL Jerseys China
Cheap Nike NFL Jerseys China Wholesale Jerseys Free Shipping Cheap NFL Jerseys Wholesale
Arts EntertainmentArts EntertainmentMusicMoviesTVArts ExhibitsPerforming ArtsReality TVCelebrityPop CultureAnimationYoung Adult FictionBooksMovie ReviewsComic BooksNewsNewsTop NewsInternational NewsStrange NewsScience SpacePoliticsElectionsEnvironmentExtreme WeatherGovernmentCrime CourtsBusiness Cheap NFL Jerseys China FinanceSameSex MarriageSmall BusinessStock MarketGun ControlGlobal WarmingPersonal FinanceDemocratRepublicanPolitical BuzzMarketing and PRImmigrationLeisureLeisureFood DrinkTravelSpa BeautyAutos MotorcyclesBars ClubsRecipesDrinksBudget TravelDIY MechanicAuto ReviewsNatural BeautyLuxury TravelMakeupHair NailsTechTechGadgets TechVideo GamesInternetTech Arts EntertainmentArts EntertainmentMusicMoviesTVArts ExhibitsPerforming ArtsReality Wholesale Jerseys From China TVCelebrityPop CultureAnimationYoung Adult FictionBooksMovie ReviewsComic BooksNewsNewsTop NewsInternational NewsStrange NewsScience SpacePoliticsElectionsEnvironmentExtreme ParentingHealth FitnessEducationReligion SpiritualityWeight Loss DietingWeddingsGardeningHome Cheap Jerseys Free Shipping SportsRecreational SportsCollege SportsGeneral SportsFantasy SportsMotorsportsHunting FishingHikingCampingRunningEquestrianWater SportsAction SportsEndurance SportsRecreation. Kobe Bryant, who plays for the Los Angeles Lakers basketball team, stands accused of raping a 19yearold college student in the Colorado town of Eagle on 30 June.Cheap Nike NFL Jerseys China The BBC's David Willis in Eagle says that although American sport and basketball in particular has seen its share of sex scandals there have been few, if any, to rival the Bryant case.10 Reasons Why Being Famous Isn't All That Greatby Fotinoula Gypsyy3 years ago Oklahoma City Thunder AllStar Kevin Durant took to Harlem last night to play a little ball. Apparently things went swimmingly.Wholesale NFL Jerseys Online Yeah, I know, who's really going to guard him out there, right? Say what you will, that's an impressive performance. Coach Outlet Coach Factory Outlet Coach Outlet Store Coach Handbags Outlet Coach Outlet Coach Factory Outlet Coach Outlet Coach Handbags Coach Site Michael Kors Outlet Michael Kors Handbags Outlet Cheap Michael Kors Michael Kors Outlet Michael Kors Handbags Outlet Cheap Michael Kors Michael Kors Outlet Michael Kors Handbags Outlet Cheap Michael Kors
Compare term life insurance quotes | Best rates on life insurance Home|About Us|Contact Us|Site Map
Compare term life insurance quotes quickly,
easily and from the comfort of your own
home with National Quotes Online

Life Insurance Health Insurance Retirement Plans

Health Home » The Basics of Disability Income Insurance

The Basics of Disability Income Insurance


Disability Income Insurance

Most people typically think of insurance coverage for their home, car or medical needs. However, we forget that what allows us to afford these items is our employment income and without earning potential it would quickly become impossible to maintain your home and provide for your family. That is why disability insurance is so critical because it protects your income. Physical disabilities can be overcome with the right care, physician, support and ability to cover your financial needs.

If you had a disabling accident or illness and could not work?

How would you...

  • replace your income?

  • make your monthly rent or mortgage loan payments?

  • buy your groceries?

  • make your car payments?

  • handle the rest of your day-to-day living expenses?

  • provide for your children's education?

  • save for retirement?

The chances of becoming disabled, permanently or temporarily?

If you are now age... The risk of becoming disabled for over 30 days before age 65 is...
25 77%
30 75%
35 72%
40 69%
45 64%
50 58%

*Source: 1985 Commissioner's Disability Income Table

Calculate
What are my chances of becomming disabled?

 

Furthermore:

  • One in 3 working Americans will become disabled for 90 days or more before age 65. *
  • The average disability absence is 2 and a half years. *
  • More than 80% of working Americans don't have disability income insurance or aren't covered adequately.


Are there really other ways to pay expenses without purchasing a Disability income policy. Like...

My employer covers me

But ... How long would the business continue to pay you? How much would it pay you? When would your employer have to hire a replacement? Could the business afford to pay both?

I'll use my savings:

But ... If you saved 10% of your income each year, one year of total disability could wipe out 10 years of savings. Can you afford that?

I'll get a loan

But ... Without an income, who will lend you money?

My spouse works

But ... Can your spouse earn enough and be partner, parent, private nurse, and employee -all at the same time?

I'll sell my investments

But ... Will a sale under forced conditions bring a true value? What will their value be at the time you are disabled?

I can collect Social Security:

But ... You cannot collect benefits until the end of the fifth full calendar month of total disability and only if it is expected to last 12 months or more. What will you do if your disability doesn't meet those requirements? Even if it does, can you wait six months for payment?

I'll count on family, friends, or charity

But ... Would these sources have funds for you to use? Do you want to depend on them

*Commissioner's Individual Disability Table A?

Amount of coverage that should be considered

How Much Disability Income Do I Need?

You should consider obtaining enough coverage to maintain the present lifestyle your family has. This means taking into account rent or mortgage payment, food, automobiles and other monthly expenses. You should be aware that income from Social Security benefits or employer related plans most likely would not come close to covering your expenses. Typical policies range from 60 to 70 percent of pre-tax income.

Choosing a benefit period

There are many different plans with different options on this. The best plan would be one that will replace the lost income until you are 65 years of age. However, a premium-saving solution would be to elect a shorter period such as a five- or ten year benefit period.

Definition Of disability

This will be a critical element to any policy that you purchase and with each policy the definitions will vary.

Some examples are:

Unable to Continue in Your Present Occupation
You should consider a plan that defines "disabled" as being unable to continue in your "present occupation". Most workers have obtained a skill that pays them at a salary reflective of that. A good policy is going to replace the income that you would have lost if you are no longer capable of that earning power.

Unable to Perform "Any Occupation"
There are plans that call for you to be unable to perform, "any occupation". These should be avoided, as they are not reflective of your loss

Elimination Period:
An elimination period is similar to the deductible on an auto policy. It will be the amount of time, generally quantified in a number of days, where you will have to wait until benefits are paid. As in an auto policy this will have a direct effect on the cost of your premiums.

A typical Elimination period would be approximately 90 days. This means that in order to be protected, you would need to have your own financial resources to last 90 days without any income.

Riders

A rider is optional, added coverage on a policy and usually carries a premium. It's important to consider adding a cost of living rider for coverage that helps disability benefits keep pace with inflation. Coverage provided by all optional riders can be refused.

Request a Health Insurance Quote

Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment advice.  Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary therefore, the information should be relied upon when coordinated with individual professional advice.





talk to live agent
888-653-6232
Long Term Care FAQ
- What is Long Term Care?
- Types of Insurance policies
- The best age to buy Long Term Care
- What to look for when buying a Long-Term Care Policy?
- Tax Implications Of Long Term Care
- Average cost of Nursing Home Care


read more »
Request Health Insurance Quote
eHealthInsurance is the leading site where you can instantly view free health insurance quotes and compare plans side by side.

Click here »
Disability Income
- What is Disability Income?
- Inflation Protection
- Long Term Disability
- Partial Disability Benefits


read more »
about us | contact | site map | privacy | terms of use | insurance resources | testimonials Copyright © 2006 National Quotes Online all rights reserved
Web Design by Liquid Pixel Studio Web Design by Liquid Pixel Studio