DISABILITY INCOME INSURANCE
Disability income insurance provides you with an income benefit in the event of sickness or injury which prohibits you from being able to perform the major duties of your occupation. Raskin Global offers a full line of disability insurance to help meet your needs.
While it is not uncommon for most people to insure their lives and material assets such as their homes, cars and valuables, many undervalue their option to sufficiently protect their most valuable asset, their ability to earn an income.
You may obtain disability coverage individually or through a group. If your employer does not provide group coverage or, if what you have wouldn’t be enough to sufficiently provide for you and your family, you might consider an individual policy.
Group disability policies typically pay 60% of your income after a 180-day waiting period. These benefits are taxed if your employer paid for the coverage.
Individual policies typically have shorter waiting periods than group policies before compensation commences. Generally, if you are the one responsible for the premium payment, you are not taxed on the benefits provided. Another advantage is that you can keep the coverage in the event you move, take another job or become unemployed, as long as you can still pay the premium.
We can help you determine the amount of insurance that is best for you and your family. We will complete a comprehensive review of your current coverage and make recommendations based on the wants and needs of your family. Call today to talk to one of our disability income insurance professionals.