Generally, if you rely on a paycheck you should have disability insurance. Disability insurance provides income to replace your wages if you can’t work due to an injury. When this insurance is purchased outside of your employer, the benefits are generally free from income taxes. Unlike group insurance, we are your agents and work closely with insurance carriers to make claims hassle – free.
For those who have been in the workforce long enough, there are benefits provided by Social Security. The application process begins after you’ve been disabled and out of work for 6 months and the process is usually long and tedious. Many times part of these benefits are taxable.
Social Security estimates that 1in 4 of today’s 20 year olds will become disabled for 90 days or more before they turn 67.