Disability Insurance
Through an employer’s health insurance, most people might be prepared for the medical costs of severe injury or sickness; however, without disability insurance, they are usually not prepared for the loss of wages that accompanies such a tragedy. Disability coverage will continue to pay for those bills that are usually paid for by your regular paycheck such as food, mortgage, car payment, etc.
Disability insurance protects your income. It will replace your income in the event that you become physically unable to work, much like life insurance, is used to protect future earnings. Disability insurance comes in two types: short-term and long-term.
Long Term Disability
Long-term care policies generally cover extended health care at home, nursing homes, or assisted-living facilities. Choosing a policy that fits your lifestyle requires a detailed comparison of options. The Benefit Advisors at Kaminsky & Associates, Inc are available to discuss options for Group Benefits, Business Owners & Individuals.
Spending a long time in a nursing home, or under home care, is not something people like to think about; nevertheless, as home health care becomes more expensive, primarily due to rising medical costs, Long-term care insurance is something people in their late 50s to 60s should seriously consider purchasing.
Short-term Disability
Much like Long Term Disability, Short Term Disability replaces a portion of lost salary due to ones inability to work. STD coverage however, covers a shorter amount of income replacement than LTD. The length of coverage and payment percentage varies from plan to plan. Choosing a plan that best fits the Groups’ or Individual’s needs is what we specialize in. Contact one of our associates today for further details.
