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  Disability Insurance And Disability Insurance Quotes

 
 
 


 Disability Insurance Needs

 


You need enough disability insurance coverage to provide you with sufficient income to live on until you are able to return to work or receive other financial resources retirement, social security, and so on.  
                          

Ask Yourself ...  Could  I still pay my  bills without my income?
The problem is managing the cost of disability without turning your savings into debt when disability strikes. Uncovered medical expenses and monthly household bills would still have to be paid or your family's lifestyle may have to change dramatically.

 


When healthy and working


we earn normal income, we save,
and have normal expenses!

   


When disabled and not working

we have decreased income,
increased expenses, and greater debt!

The choices are these:

 


Borrow money
?

 
Borrowing money when your household income has dropped substantially may be very difficult. or not a choice at all.
       
 


Use of your savings
?

 
Raiding your savings can have
disastrous
long-term consequences.
       
 


Sell property or assets
?

 
You've worked hard to establish your lifestyle. Loss of income could force you to
sacrifice your home or other assets at fire-sale prices
       
 


Live on spouse's income
?

 
Will your spouse's income be adequate for your family to maintain their lifestyle?
       
 


Purchase Disability Income Insurance
?

 
Disability Income Insurance will provide
extra income so you don't have to worry about losing what you've worked long and hard to achieve.

Why Disability Income Insurance?
Chances of being disabled for three months or longer before age 65

25
30
35
40
45
50
55
58%
54%
50%
45%
40%
33%
23%

Source: 1985 Commissioners Individual Disability A Table

How much disability insurance do I need?

The benefits purchased through a disability policy are quoted as monthly income that you receive if disabled. Consider your monthly income after taxes as the base amount you would need. If you have other sources of income, that should be considered in the amount you apply for. In addition to the monthly amount, an individual needs to consider the length of time you want to collect benefits, and when you would need them to begin. Pay attention to the premium amount also. Don't buy more coverage than you can reasonably afford. 

Related Topics
            About Disability Insurance Needs
                ●  Needs 
                
  Disability Needs Calculator
               
●  View Types Of Benefits
                ●
  Types of Disability Insurance Coverage

                ●
  Benefits
                ●
  FAQ's     
                
  Illustrations Examples
                                            
Not all insurance products from all insurance companies are available in all states.
Note:  We do not provide legal or tax advice. The general information presented on various tax aspects contained in this site are not intended to be relied upon as tax advice. Individuals should seek the advice of a qualified tax professional regarding the taxation of these benefits as they apply to your particular situation.  These benefits are offered in all states except: AK, HI, & WY. License #'s: CA: OC38446 MT: 29724 F00-0283-LC 


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