Disability Insurance

Disability insurance provides supplemental income in the event of an accident or illness resulting in a disability which prevents the insured from working their regular job. This type of benefit is also commonly referred to as disability income insurance or income protection.

Many Americans have found themselves in a crisis situation without adequate disability insurance coverage or other emergency savings. With the rising cost of health care and fewer employers providing disability benefits, income protection offers invaluable peace of mind.

At least 51 million working adults in the U.S. do not have disability income insurance. However, only 48% of American adults indicate they have enough savings to cover three months of living expenses in the event they cannot earn income*. click here for source

Remember: Workers’ Compensation insurance only covers time away from work if the disabling illness or injury was directly work-related. In 2016, only 1% of American workers missed work because of an occupational illness or injury.

There are many bells and whistles that can be added to a disability income policy. Coverage can be tailored to your needs and your budget. Disability income insurance is calculated based on your income and type of work you do. Benefit periods can be 2, 5 or 10 years, or to age 65, 67 or 70.

Contact St. Charles Financial Services today to speak to a disability income professional. We can help you decide what products and features will benefit you and help protect your family.