Disability income insurance pays benefits that generally replace 50 percent to 70 percent of your earned income when you can’t work due to illness or an accident. While the government provides a base coverage to all workers, it’s the most difficult to qualify for. And while your employer may provide you with comprehensive short- and long-term coverage, even that may not be sufficient for your needs.
So, who needs disability insurance? Individuals whose salary represents their family’s sole (or primary) source of income are ideal candidates, as are individuals who could not afford to maintain their lifestyle if their occupational income were interrupted. Admittedly, this definition includes most people, but there are many who should not consider disability insurance: the retired, certain government workers who are explicitly covered under state or federal law, part-time workers who are not relying on their income as a principal source of wealth, and those who are wealthy enough that their investment income is sufficient to live off of.
The next question is somewhat more difficult: how much insurance do you need, and what sort of policy? Determining how much insurance you need requires that we conduct a thorough analysis of your cash flow, other income sources, and future income needs. As we evaluate what sort of policy best suits your situation, we will focus on the definition of disabled that each policy specifies. After completing the form, please click on the "Submit" button. Your information will be emailed to our offices and we will process your request. All information will be kept confidential.
1.2000 Field Guide, National Underwriter