You have carefully planned for the inevitable such as retirement and distribution of your estate. But have you planned for the unexpected? What happens if you were to become injured or sick and could no longer work? Would you be able to pay your bills or maintain your current standard of living? Purchasing disability insurance can give you peace of mind knowing that you will receive a consistent income if you were to become sick or injured.
Disability insurance is designed to replace a percentage of your income if you are unable to work due to illness or injury. Depending on your policy, if the unthinkable were to occur, you would receive 45% to 60% of your gross monthly income, tax free. No one can ever predict when injury or illness will occur, so it is advisable to integrate disability insurance into your financial plan.