If you become disabled and unable to work as a result of an accident or illness, what would you and your family do for income?
Disability income insurance, which complements health insurance, can replace lost income.
Forty-three percent of all people age 40 will have a long-term (lasting 90 days or more) disability event by age 65.
There are three basic ways to replace income:
For most workers, even those with some employer-paid coverage, an individual disability income policy is the best way to ensure adequate income in the event of disability. When you buy a private disability income policy, you can expect to replace from 50% to 70% of income.
There are two types of disability policies: Short-Term Disability (STD) and Long-Term Disability (LTD):
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