Disability Insurance
Disability insurance can help protect you and your family from an unexpected illness or accident that leaves you unable to work and earn an income.
Generally, disability insurance replaces between 60% and 85% of your regular income, up to a maximum amount, for a specified time if you:
- temporarily can't work
- are permanently disabled due to an injury or illness
Many employers offer disability insurance. However, you can get your own disability insurance plan through a life insurance agent.
If you're self-employed, you can also get disability insurance that will cover many of your business expenses if you're unable to work.
What to consider when buying disability insurance
If you're considering disability insurance, make sure you:
- check with your employer to see if you already have group disability coverage with your employer's plan
- shop around, especially if you're considering private disability insurance