Disability Insurance Defined - A serious illness or injury can harm more than your health-it can have an impact on your ability to work and meet your family's living expenses.
Long-term disability income insurance helps you pay living expenses while you are unable to work.
It offers paycheck protection providing cash directly to you for spending on mortgage payments or rent, groceries, utility bills, car payments, or whatever else you choose. A policy also can pay for training or other assistance you may need to return to work.
Disability insurance replaces income you lose if you have a long-term illness or injury and cannot work. This is an important type of coverage for working-age people to consider. Disability insurance does not cover the cost of rehabilitation if you are injured. Check your major medical insurance to see if it is covered there.
Some employers offer group disability insurance and this may be one of the benefits where you work. Or you might be eligible for some government-sponsored programs that provide disability benefits. Many different kinds of individual policies are also available.