January 17, 2020

Disability Insurance

Individual Disability Insurance

Disability Insurance is a form of income protection against the unknown. Disability insurance is insurance that covers your earned income against the risk that a disability prevents you from working as a result of a disabling injury or an unexpected illness. If you become too hurt or too sick to work, how are you going to meet your immediate financial needs, like paying the bills? Disability Insurance helps to ensure you have the money you need to continue living the lifestyle you’ve worked hard to achieve. Disability Insurance is an insurance policy for your paycheck and protects you financially.

State Disability Insurance (SDI)

State Disability Insurance provides short term Disability Insurance  and wage replacement benefits to eligible workers who need time off work due to injury or illness. This is short Term only (less than one year). SDI benefits are taxable only if paid as a substitute for unemployment insurance benefits. When State Disability Insurance benefits are received as a substitute for UI benefits, the SDI is taxable by the federal government but is not taxable by the State of California.

Long Term Disability Insurance (or Private Disability Insurance)

Disability insurance provides you monthly payments when you can’t work due to a disabling injury or illness. You might be asking yourself, Do I need Disability Insurance?  If your future financial security is important to you then the answer is Yes. Your income is a necessity, and being without it could have serious financial consequences affecting your future.  No one foresees getting sick or injured. Common causes of disabilities are unexpected illnesses like heart conditions, cancer, or stroke(s).

Think you can’t afford Disability Insurance – Disability insurance policies are customizable to your specific needs and budget and can be modified to fit your needs for the future. Often times, the cost of coverage may be as little as a daily cup of premium coffee or a night out.

You may be saying to yourself – I already have a disability policy through work – Great. But did you know that when you leave your job you must leave the group LTD policy behind.

An individual Disability Income insurance policy is 100% yours. You own the policy and it stays with you even if you change jobs or careers. The individual disability insurance policy will also help supplement any income gaps in your group coverage.

Get a Disability Insurance Quote