What is Disability Income Protection?
Disability insurance provides you with a percentage of your income if an illness or injury prevents you from working and earning a living. Disability insurance is something anyone who works and has earnings should consider. That’s because one in four people today will become disabled and potentially face financial hardship at some point during his or her working life.
How Much Does Disability Insurance Cost?
The cost of disability insurance depends on several factors, including your benefit amount, benefit period, occupation, health status, age and terms of the policy. As a general rule of thumb, the disability insurance cost for a long term individual policy is 1% to 2% of your annual salary.
Discount for Associations
Association members can expect to recieve a comprehensive disability insurance plan with up to a 20% premium discount. If you should become disabled from an injury or illness, this program would pay you an income up to $30,000 tax free per month as income replacement.
