Disability Income Insurance
Protect yourself from the Unpredictable
Disability income insurance can be important for helping insure that your ability to make and earn a living is protected against a loss of income when an illness or an accident leads to incapacitation. Steffens Insurance Group can provide disability income insurance for paying a premium and if protected, a Disability Income Insurance policy will pay a monthly benefit for a specified amount of time after a pre-determined waiting or elimination time.
A disability is defined by the policy as either an “any” or “own” occupation definition. An “any” occupation definition is relatively more restrictive and says that a benefit will be paid only if disability prevents you from doing “any” occupation – that is, that you are severely disabled. An “own” occupation definition says that you will receive benefits if you cannot perform the major functions of your occupation as defined in the policy at the time it was issued. Depending on your policy, this means that you could still collect benefits even if you could do some work, but not the major functions of the occupation you had when the policy went into effect.