Disability/Income Protection Insurance
Personal Disability/Income Protection insurance safeguards your most valuable asset—your ability to earn—by replacing a portion of your income if illness or injury prevents you from working.
Tailored to your profession and lifestyle, this coverage ensures you can maintain bills, mortgages, and long-term goals without tapping into savings or derailing your financial plan.
Key Features & Benefits:
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True Own-Occupation Definition:
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Guarantees full benefits if you can’t perform your professional specialty, even if you can work in another capacity.
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Tax-Free Benefits:
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Monthly disability payments are generally received income-tax-free, maximizing your net benefit.
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Customizable Elimination & Benefit Periods:
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Choose how long before benefits begin (e.g., 60, 90, 180, and 365 days) and how long they last (e.g., 2 years, to age 65, 67, 70).
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Portability & Non-Cancelability:
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Coverage stays in force—even if you change employers or enter a group plan—and premiums can’t be increased based on future health changes.
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Rider Options:
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Enhance your policy with add-ons like Cost-of-Living Adjustment (COLA), Residual Disability, Future Purchase Option, or Waiver of Premium.
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Underwriting Tiers & Preferred Rates:
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Secure lower premiums with top health classifications; residents and fellows often qualify for exclusive discounts.
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Income Replacement Ratio:
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Typically replaces 60–70% of your pre-disability earnings, ensuring lifestyle continuity.
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Agreed-Value vs. Guaranteed-Issue:
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Agreed-Value policies eliminate benefit reductions over time, while Guaranteed-Issue options may waive medical underwriting.
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Peace of Mind:
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Provides financial stability for you and your family—letting you focus on recovery, not on how to pay the bills.
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