Title: Disability Income (DI) Insurance: Overview
Headings: Disability Income (DI) Insurance
Disability Income (DI) Insurance
What is Disability Income (DI) Insurance?
Understanding Disability-Income (DI) Insurance
Key Takeaways
The Cost of Disability Income Insurance
Disability Income Insurance Waiting Period

Content: Some policies include bonuses and commissions as income. The benefits are tax-free because the policyholder used after-tax dollars to pay premiums. The policy pays a benefit in the event illness or injury prevents the policyholder from earning their usual income in their occupation. Although some employer-offered plans and Worker Compensation can provide help during a disability, the quality and scope of the coverage may leave the disabled employee short of the protection they require. Many employer-offered plans are part of a suite of coverage and may not pay to the levels an employee needs to meet their expenses. Also, Worker Compensation only covers injuries as a result of employment. Self-employed individuals and small business owners must go it alone when it comes to disability income. Even if an injury is work-related, an independent business owner may not claim Worker's Compensation for themselves. Key Takeaways
Disability income (DI) insurance provides benefits to insureds who are disabled as a result of injury or illness and cannot perform normal work duties. Disability income insurance pays a portion of an insured's income, typically no more than 60%.