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Helping you live your best life begins with protecting the largest asset you rely on every day, your ability to earn an income. Think about it- someone who averages $80,000 income per year, from age 30 to age 66, will have earned over $2.8 million during their working life.
Individual Disability Income is like a “back-up plan” you can count on. It helps protect your income – or business – if you become too sick or hurt to work. And coverage can be tailored to meet your specific budget and needs. It protects your ability to work and earn an income. If you were to become sick or hurt and unable to work, this type of policy provides a monthly benefit to help pay everyday living expenses. It’s commonly called income protection.
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Disability income insurance, also known as disability insurance or paycheck protection insurance, is a type of insurance policy that provides financial protection to individuals in the event that they become sick or hurt and are unable to work. It offers a source of income replacement during the period of disability, helping individuals meet their financial obligations and maintain their standard of living.
Here’s why disability income insurance is an important coverage to have:
Overall, disability income insurance serves as a financial safety net, providing peace of mind and protecting your financial well-being in the event of a disability. It offers income replacement, helps cover medical expenses, and ensures you can maintain your lifestyle and meet your financial obligations even when you can’t work.
Here’s an example of what a disability income policy provides:
Jason is 40 years old. He earns $80,000 per year and his employer does not offer a disability income benefit. His work requires a moderate amount of physical work.