Consider what would happen to you, your family and your home if you were unable to work. How long could you go without income before true financial hardship struck? At Ascent Financial, we believe everyone who depends on a paycheck, whether you’re working for someone or are self-employed, should purchase disability insurance.
People insure their prized possessions – home, car and property but often fail to insure the thing that makes all those possible – their income. Bills don’t stop because you’re too sick or unable to work due to injury. Your household bills on top of all the medical bills can become daunting. Social Security disability benefits, if you qualify, can take up to a year to reach you. Employer policies are usually taxed. Do you think your family could survive this?
Disability Insurance is designed to replace a sizeable portion of your income when illness or injury prevents a you from earning a living. If you are unable to perform your job, disability insurance steps in to help pay your regular monthly bills until you are able to return to work.
A Disability Plan Can Help Individuals
- Provide personal income protection for everyday living expenses
- Allow you to continue saving for retirement
A Disability Plan Can Help Businesses
- Reimburse owners for fixed business expenses
- Keep business value intact by funding the buyout of a disabled owner
- Help businesses offset the loss of a key employee
short term disability insurance
Typically covers between 60% and 70% of your base salary for a few months to a full year
long term disability insurance
Continues to pay until you are no longer disabled, or for the designated number of years in the policy, at a rate of about 40% to 60% of your base