If you are not able to work because of an accident or a serious illness, how long can you afford to go without a paycheck? Only 48 percent of American adults indicate they have enough savings to cover three months of living expenses in the event they’re not earning any income.
The fact is one out of four Americans will be disabled for three or more months throughout their careers, according to the U.S. Social Security Administration. And, without some kind of income protection, many Americans will experience severe financial difficulty if they need to miss work due to illness or injury.
An Individual Disability Income insurance policy will replace your net income in such an event. Taking into account your occupation and income, Owens Group will work with you to tailor a policy that best fits your needs.
Owens Group represents many leading carriers and can advise you on features that will enhance the value of your coverage in the event of a claim. These features include: how disability is defined, partial benefits, inflation, and guarantees that affect both premium and coverage.
For individuals who have the option of purchasing this coverage through an employer-sponsored plan, we can help evaluate your level of protection and your premium. We can also advise you on issues such as the portability of coverage should you change jobs. If you are in a highly specialized field, such as the medical profession and need coverage that will be suited to your occupation, we can also help you.
The most common reasons for short-term disability claims are:
The most common reasons for long-term disability claims are:
Source: Integrated Benefits Institute, Health and Productivity Benchmarking
