Like most people, you may have a number of monthly, ongoing financial obligations you’re responsible for, such as a mortgage or rent, car payments, credit card debt, and everyday expenses. If you become disabled, you will still need to fulfill your financial commitments and provide for your loved ones. Some individuals may have a short term disability (STD) or long term disability (LTD) plan through their employer, but the replaced income through such policies while on disability may not be enough. Therefore, it’s important to help protect a portion of your income with an Individual Disability Income (DI), as this may help protect more of your income, if you become too sick or injured to work for an extended period of time.
Before choosing a disability insurance policy, consider what your financial situation would be if you suddenly lost your ability to work and earn an income.