Disability Insurance replaces part of your income if an illness or injury keeps you from working. It is straightforward protection for the paycheck that you and your family count on.
I have health insurance. Do I also need disability insurance?
While health insurance helps pay medical bills, Disability Insurance helps you continue paying everyday expenses such as your mortgage or rent, utilities, groceries, car payments, and other financial obligations. The goal is to help protect your lifestyle and financial security when your ability to earn an income is interrupted. In short: health insurance pays the doctors. Disability Insurance pays the mortgage.
Isn’t Disability Insurance expensive?
The cost of Disability Insurance depends on:
- The benefit amount: the maximum amount of money the policy pays out
- Benefit period: how long the insurance company will pay out benefits after your claim
- Your occupation
- Your health status
- Your age
- Specific policy terms
- Additional factors.
Many people are surprised by how affordable Disability Insurance can be. Typically, a Disability Insurance policy costs around 1% to 2% of your annual salary and can provide significant financial protection to help preserve savings, retirement accounts, and other assets during a period of disability.
What are the chances I develop a disability?
Most long-term disabilities are not caused by workplace accidents. Illnesses such as cancer, heart disease, back injuries, and mental health conditions account for many disability claims. Disabilities can affect people in physically demanding jobs as well as professionals who work in office environments. About 1 in 4 current 20-year-olds will experience a disability that prevents them from working for at least a year before reaching retirement age.
Why buy Disability Insurance now?
When you apply for Disability Insurance, your costs and coverage options are based on your current age and health. Delaying could increase your premiums (the cost), limit your choices, or result in coverage denial if your health changes. Securing coverage now provides greater flexibility and peace of mind.
What discounts are there for association members?
As an association member, you can expect a comprehensive Disability Insurance plan with up to a 20% premium discount. If you can’t work due to illness or injury, the plan can replace up to $30,000 of monthly income, tax-free.
Your ability to earn an income is one of your most valuable assets. We take the time to understand your profession, financial obligations, and long-term goals to help design a Disability Insurance strategy that fits your needs. Through our experience and access to leading carriers, we help you secure quality coverage that protects your income, your family, and the future you're working hard to build.
Who should get Disability Insurance?
Business owners, self-employed individuals, and employees across all industries. Anyone who depends on a paycheck to cover their living expenses or achieve their financial goals should consider disability insurance.
- Solo and small-firm attorneys, whose income depends on showing up to work
- CPAs and financial professionals with high-earning years to protect
- Builders, tradespeople, and contractors, whose work carries physical risk
- Self-employed and independent professionals, who don't have employer-sponsored coverage to fall back on
If your livelihood depends on your ability to work, it is worth considering Disability Insurance.
How can I learn more about Disability Insurance?
Complete the request form for a no-pressure conversation to review your situation, answer your questions, and help you understand what disability coverage could look like for you.
We’ll explain how different policies work, what protection may fit your income and goals, and next steps if you decide to move forward. We clearly lay out your options so you can make an informed decision about protecting your income and financial future.
