Disability Income Insurance

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Disability Income Insurance

Disability Income Insurance

Disability income insurance offers an extra layer of financial protection by replacing your income when you’re not able to earn it due to a disabling injury or illness.

  • Disability income insurance provides income if you experience a long-term illness or injury.
  • Employer-sponsored policies often cover only a percentage of your current income.
  • By paying for a policy with after-tax dollars, the benefits received are income tax-free.

A sudden injury or illness could prevent you or your spouse from working. It could result in a loss of income as well as additional expenses associated with the disability. Employer-sponsored group disability insurance policies, Social Security disability benefits, and personal savings may fall short of providing all the income you depend upon.

An individual disability income policy can:

  • Replace a higher percentage of your earned income
  • Make up for bonus income
  • Benefits should be tax-free

If you pay your premiums with dollars that have already been taxed, any benefits paid to you will be income tax-free. Retaining your own coverage gives you more control.

Your financial advisor can help you determine the disability income insurance that’s appropriate for you. Your financial advisor can help you choose the right coverage based on:

  • Benefit amount. The proportion of your monthly income that you replace.
  • Length of time before benefits start.
  • How long will the benefit last?
  • Definition of disability. This can be the most important part of a policy.

To determine the type and amount of disability income insurance that’s right for you, talk to a financial advisor at New Generations Financial.

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Get in touch with our support team today, so we can book your appointment. We are always available to help.

Office Location

New Generations Financial

9110 N. Loop 1604 W., Suite 104 #2260, San Antonio, TX, 78249, US

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