Disability Insurance
Disability Insurance in NJ, NY, CT, PA and Other States
Disability insurance offers financial protection by providing an income when you are unable to work due to illness or injury. It’s no surprise that disability coverage is essential. For example, a 40-year-old worker has only a 14% chance of dying before age 65, but faces a 21% chance of being disabled for 90 days or more.
There are three basic ways to replace income:
Employer-paid disability insurance
This coverage is required in most states. Most employers offer some form of short-term sick leave, and many larger employers provide long-term disability insurance as well. Benefits typically cover up to 60% of salary, lasting from five years to age 65, and in some cases may extend for life.
Social Security disability benefits
This applies to workers whose disability is expected to last at least 12 months and prevents them from performing any gainful employment.
Individual disability income insurance policies
Other limited replacement income may be available under certain circumstances through workers’ compensation (if the injury or illness is work-related), auto insurance (if the disability results from a car accident), or the Department of Veterans Affairs.
For most workers, even those with some employer-provided coverage, an individual disability income policy is the best way to ensure sufficient income if a disability occurs. With a private policy, you can typically replace 50% to 70% of your income.
There are additional factors to consider when Looking into disability insurance, including:
Short-Term vs Long-Term Policies
Non-cancelable & Guaranteed Provisions
Additional Purchase Options
Coordination of Benefits
Cost of Living Adjustments
Residual or Partial Disability Rider
Return of Premium Provisions
Waiver of Premium Provisions
Want Clear Answers on Disability Insurance?
Contact Everett Insurance to learn more about coverage across New Jersey, New York, Connecticut, Pennsylvania, Nevada, and other states. We’re happy to help.
Get a Quote Today
When it comes to protecting your income, it’s always best to be prepared. People with disabilities across New Jersey, New York, Connecticut, Pennsylvania, Nevada, and other states can rely on Everett Insurance to provide comprehensive disability insurance designed to safeguard what matters most.
By reviewing your unique needs and financial goals, our team develops personalized, high-quality policies that offer the right level of protection at a price that fits your budget. We also identify bundling opportunities and available discounts to help you maximize your savings.
For more details about our disability insurance options or the carriers we partner with, contact Everett Insurance today or request a quote online to get started.