Disability Insurance Helps Protect Your Future
You rely on your paycheck. Disability insurance can help protect it. If you're totally disabled due to sickness or injury and can't work, disability insurance offers coverage that can provide money to help pay your mortgage, rent, car loans, and other monthly expenses. It may also help prevent using your retirement or education savings if you can't work. Let's talk.
Did You Know?
Long-Term Disability Insurance Goes to Work When You Can't
Helping You Stay Financially Stable
How Does Long-Term Disability Insurance Work?
Did You Know?
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You rely on your paycheck. Disability insurance can help protect it. If you're totally disabled due to sickness or injury and can't work, disability insurance offers coverage that can provide money to help pay your mortgage, rent, car loans, and other monthly expenses. It may also help prevent using your retirement or education savings if you can't work. Let's talk.
Did You Know?
- Just over 1 in 4 of today's 20-year-olds will become disabled before they retire.
- Insurance statistics show that only 9 percent of long-term disabilities actually resulted from serious accidents.
Read More Disability Insurance:
Helping You Stay Financially Stable
Most people don't realize the high risk of becoming permanently or temporarily disabled at some point in their lives. If you were totally disabled and couldn't work as a result of an illness or injury, do you have the resources today to cover your expenses for weeks, months, or even longer?
How Does Long-Term Disability Insurance Work?
- It pays monthly income directly to you when you're unable to work because of a covered total disability.
- You choose the length of time you must be disabled before you start receiving benefits (Elimination Period) and the length of time you would receive benefits.
- Options include a five-year benefit period or a "to age 67" benefit option.
- Maximum monthly benefit amounts range from $500 to $20,000, based on your income and occupation.
- You can customize your coverage with different riders.
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| Long Term Disability Insurance Policy From State Farm |
- Just over 1 in 4 of today's 20-year-olds will become disabled before they retire.*
- Insurance statistics show that only 9 percent of long-term disabilities actually resulted from serious accidents.**
- According to a Bureau of Labor Statistics 2014 Study, just 33 percent of the U.S. workforce had long-term disability coverage.
- Pay your bills
- Pay your rent or mortgage loan payments
- Buy groceries
- Make car payments.
Do You Have The Resources Today?
Using Savings
Savings accounts can serve as a temporary safety net, but most people haven't saved enough. A disability policy can provide a longer-term solution. According to the 2014 Consumer Disability Awareness Study, 57 percent surveyed said they had enough savings to pay their bills for 6 months or less.
Collecting Social Security
Because the definition of disability is very strict (the disability must be expected to last 12 months or more, or result in death), 65 percent of all claims submitted are denied. In 2016, the average Social Security benefit amount was $1,166 per month.
Consider Long-Term Disability Insurance
For additional information on long-term disability insurance or short-term disability insurance, schedule some time with a State Farm agent to talk about your disability insurance needs.
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