Are you disabled and can not work this holiday season? If yes and you are stressed about securing an income through this challenging time, we are here to help you. Read below to learn how Individual Disability Income insurance can benefit you.
If you are disabled or not able to work because an accident or illness, disability income insurance can help you replace lost income. Overall, there are three ways to replace income:
- Employer-paid disability insurance.
- Social Security disability benefits.
- Individual disability income insurance policies.
How To Insure Yourself Against Loss Income
Did you know that 43% of people over the age 40 have long-term disability of 90 days or more by their 65th birthday? It is true. Below are ways the three-disability insurance can replace your income:
Employer-paid disability insurance
This disability insurance most states make mandatory. It provides you short-term sick leave from most businesses. Larger businesses are more likely to provide long-term disability coverage in addition to short-term leave. The benefits have the potential to be 60% of your salary. It can last from 5 years until you are 65 years of age.
Social Security Disability Benefits
If your disability is expected to last 12months or more, you can be paid from this type of disability insurance. You are likely to receive this type of disability insurance if there is no potential for you to obtain gainful employment within that time period.
To learn about Individual Income Insurance policies, read this article from the Insurance Information Institute.
If you have any questions, contact the Kennedy Insurance Agency by calling 410-355-1010 or click here today!
Kennedy Insurance has provided Insurance solutions to individuals, families, and businesses for more than 25 years. No matter what type of Insurance you need, we have the knowledge, experience, and markets you can trust. Our Personal and Commercial lines departments can satisfy a broad spectrum of Insurance needs. With a large number of companies to choose from, we shop the markets so that you do not.
Our primary goal is to provide the people of Baltimore, Maryland and its surrounding areas with adequate Insurance at a competitive price, while still providing excellent customer service.
Check us out on Facebook and Twitter as well!
