The Need for Disability Insurance
One of your most valuable assets may be your ability
to earn an income. Pay a small amount now for Disability Income insurance
and you will have benefits to help offset a loss of income if you are
unable to work due to a covered disability. The 1985 Commissioner's Table
A, 2002 Current Industry Standards, reports that the average chance of
being disabled for 90 days or longer before age 65 is at least 2 times
greater than the chance of dying. If you are under the age of 40, the risk
is over 3 times greater.
SGPIA agents have
access to short-term disability insurance policies available through
Simplified Issue (no blood tests or medical examinations) or Select
Contingent Guaranteed Issue for employer groups of 50 lives or larger.
Available benefit periods are 3 months, 6 months,
1 year or 2 years.
Standard and Preferred Rates are available based
on occupation.
Available elimination periods from 0/7 to 180/180
(Accident days/ Sickness days).
Provides benefits for up to 60% of salary or
$3,000/month, whichever is higher.
The premium rates
will vary according to the elimination period and benefit period chosen.
