Disability Insurance

Disability insurance provides employees with income protection against disabilities resulting from a covered physical disease, injury, pregnancy or mental disorder.  Disability insurance may provide many features with flexible policy provisions that enable employers to customize their coverage choices.
It comes in two types, short-term disability and long-term disability.  Each different type of policy is designed to cover either shorter or longer duration of disability.  A combination of both is necessary to cover the full spectrum of possible disability outcomes.

Disability insurance offers paycheck protection, providing cash directly to you for spending on mortgage payments or rent, groceries, utility bills, car payments, or whatever else you choose. A policy also can pay for training or other assistance you may need to return to work.

With disability income insurance, you can avoid depleting the savings you may have accumulated for your children’s education or your retirement.

Knowing your eligibility for disability benefits from your employer, the government, or other programs is an important first step before deciding whether to purchase disability income coverage. Also take into account other sources of income that may be available to you: a spouse’s income, short-term emergency savings, investment income, or help from your family.

If the total of these benefits is insufficient to pay your living expenses if you become disabled, or a disability would affect your long-term savings plan, consider buying an individual disability income insurance policy. R.M. Beasley & Associates can help you navigate through the maze of coverages, elimination periods, and benefit amounts that pertain to disability insurance.

Questions to ask about Long Term Disability at work…

• Do I have long term disability coverage?
• When would my benefits begin?
• How long would I get a check?
• How much would I get?
• Is the benefit taxable income?
• Do I have a cost of living rider on my plan?
• Will it pay for my bonuses?

For more help and to answer any questions, contact us for a free consultation or request more information.