Unfortunately, a disability strikes more often than you’d think – so it’s important to protect your ability to earn an income. This is true whether you are single or have a family. Disability insurance insures your paycheck.
Disability income insurance (DI) offers protection through benefits that replace a portion of your pre-disability income. The monthly amount that you can qualify for, the premium, and the benefit period all depend upon your occupation.
When it comes to DI insurance, you’ll want to find a policy with the highest monthly benefit you can qualify for with the longest benefit period possible. It’s also essential to get the longest waiting period you can afford, because that will help control the premium cost.