Disability insurance choices

Disability insurance is paycheck protection. It replaces a portion of your income—in the event you become totally disabled—until you can start working again.*

There are two types of disability protection:

  • Long-term disability gives you income if you are out of work and totally disabled, usually for more than six months for long-term conditions.

You can choose one—or both—of these types of disability insurance. The amount that you pay for this protection will be based on: 

  • How much income you want to protect to cover your expenses (the benefit amount). Depending on the plan, you can pick either a dollar figure or a percentage of your income to replace while you are disabled as a benefit amount.
  • How soon you want your payments to begin if you become disabled (the elimination period). You decide the number of days you can wait for your benefits to kick in after you are no longer able to work. Typically, the longer the elimination period is, the less expensive the coverage is—similar to a deductible on auto or medical insurance.   
  • How long you want your disability income to last (the benefit duration). You can select the maximum length of time that you will receive replacement income while you are unable to work.

You'll need to consider all three of these factors when deciding which disability insurance plan can best meet your needs—and your budget. It’s up to you to decide what’s most important for you and your family.

To find out if your company offers disability insurance for employees and what benefit options are available to you, check with your benefits administrator today.

* The definition of "totally disabled" will vary by policy. You should check your own insurance certificate or policy for your specific coverage.

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