Disability Insurance
“Disability Insurance covers the situations away from work that may happen to you and keep you from working for a period of time. Protect your family and your assets by having this coverage. No one plans to be disabled, but if you are, have a plan that provides you an income until you can return to work.”
Gary Gregg
Agent
Phone: 423-318-5822
E-mail
Short-Term Disability (STD) pays a percentage of your salary if you become temporarily disabled meaning that you are not able to work for a short period of time due to sickness or injury (excluding on-the-job injuries, which are covered by workers compensation insurance). A typical STD Policy Provides you with a weekly portion of your salary– usually 50, 60 or 66 2/3 percent for 13 to 52 weeks.
Most STD policies have a “cap” meaning you receive a maximum benefit amount per month.
Causes of STD Claims
- Pregnancy (normal): 21%
- Injuries (Excluding Back): 10%
- Digestive/Intestinal Diseases: 7%
- Back Injuries: 6%
Long-Term Disability (LTD) picks up where short term disability leaves off. Once your STD benefits expire, the LTD policy pays you a percentage of your salary (usually 50, 60, or 66 2/3 percent) depending on your policy, you will then receive benefits for two years, five years or until you turn 65.
Causes of LTD Claims
- Cancer: 12.2%
- Pregnancy Complications: 12.1%
- Back Injuries: 11%
- Other: 9.3%
Watch a video explaining the importance of Disability Insurance. “Back to Basics with Disability Insurance”
