What Are The Advantages of Disability Insurance?
Many employer group plans have a disability component, but they often have conditions that limit the amount of time you can be on a claim. And if you were to leave your employer, you would lose the coverage. Your personal disability insurance will protect you for many years and will not be altered if your occupation changes to a riskier one, or if your salary decreases.
Disability insurance typically replaces as much as 55% of your income. Keep in mind that when premiums are paid with your own after-tax money, the benefits are tax-free.