Stay on top of medical costs and day-to-day expenses by replacing a portion of your normal income.
Disability insurance is an insurance product that replaces your income for a period of time in the event that you experience a disability. While long-term disability insurance can offer years of replacement income, short-term disability helps during a temporary injury or illness, when you give birth, or, while you’re unable to work.
Short-Term Disability Insurance
- Typically replaces 60% to 70% of base salary
- Pays out for a few months to one year, depending on the policy
- May have a short waiting period, such as two weeks, after you become disabled and before benefits are paid
Long-Term Disability Insurance
- Typically replaces 40% to 60% of base salary
- Benefits end when the disability ends. If the disability continues, benefits end after a certain number of years or at retirement age.
- A common waiting period is 90 days after disability before benefits are paid