Disability Insurance or sometimes called DI, disability income insurance, or Disability Income protects the insurers earned income against the risk of disability. It would pay a portion of your salary, creating a safety in case of illness, disability or accidents that render the individual unable to work.
For instance an employee may suffer from an inability to maintain composure in the case of psychological disorders or an injury, illness or condition that causes physical impairment or incapacity to work. It encompasses paid sick leave, short-term disability benefits (STD), and long-term disability benefits (LTD). If you suddenly become ill or disabled the Disability Insurance can help you pay your bills, make your monthly rent or mortgage loan payments, buy your groceries, make your car payments, pay for your children's education, etc.
According to Council of Disability Awareness the average length of a long-term disability claim is three years. So, what you need to do is to target above three years to give you more protection.
Yes, workers compensation is a Disability Insurance, however it's only for work-related disabling illness, and it only covers about 2/3 of your pre-disability income. Most long-term disabilities doesn't come from work-related illness or injuries it comes from cancer, heart disease, and other illnesses.
Having a disability insurance is really important since no one knows what happens in the future. Protecting part of your income would be better than having no protection at all.
If you want to protect your future and get additional Disability Insurance you can get quotes from these online brokers:
DisabilityQuotes.com
Disability Insurance Resource Center
PolicyGenius
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