Disability InsuranceProtect your most valuable asset during your working years, which is your ability to earn a living.
During the time you are unable to work due to a qualifying disability (illness or injury), the replacement of your regular income through the monthly benefit provided by disability insurance helps to maintain your pre-disability lifestyle.
> – generally allows for income payments to begin after about a two-week waiting period and will continue to pay until he/she recovers or maxes out the benefits–usually anywhere between one month to two years, depending on the policy.
> – generally allows for income payments to begin after about a 90-day waiting period, although it could be much longer depending on the policy but will continue to pay far longer than STD–for a few years, up to age 65, or even for life.
If you have disability coverage through your employer, a “wrap around” disability policy can supplement employer-provided coverage.