Strategies > Insurance > Disability Income Insurance > SUPPLEMENTAL DISABILITY INSURANCE

Chances are the basic disability benefits offered through your employer might cover 60% of your income at best. The rest would come out of your pocket. Supplemental disability insurance is comprehensive, covering you where other plans may leave off. An accident or illness does not necessarily have to be a financial catastrophe.


How Much Of Your Income Is Protected Through Your Workplace Benefits?

Nobody thinks it will happen to them, but one in eight workers will be disabled for more than five years. Luckily, there are a few ways to protect yourself against the financial implications of becoming too sick or injured to work and earn an income.

A good start to protecting your income is disability income insurance provided through - and often paid for by - your employer. Such a policy typically covers 40-60% of pre-disability salary, often up to a set benefits cap. While this type of insurance can serve as a good foundation for protection, it may not be enough to support you and your family if you’re too sick or injured to work. Purchasing supplemental income protection (disability insurance) can be a great way to enhance and tailor your coverage to protect the life you’ve built.

Take a look and see if this kind of insurance is available to you at work, and if not, reach out to your employer’s human resources or benefits administrator.

  • A bigger safety net. Supplemental individual disability income insurance is tailored to your specific compensation and can cover your bonus and other incentives.

  • Individually owned policy. It belongs to you, even if you change jobs.

  • No medical exam required. Applying for this coverage is easy, because there is no medical exam and you just need to answer three simple yes/no questions.

  • Your coverage and costs remain fixed. As long as you make payments on time, your policy can’t be changed or cancelled.


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