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Disability Myths:“I'm covered through work”

Lucky you! Not all companies offer group disability insurance. But you can’t keep your coverage if you switch employers. And chances are, your group benefits alone won’t protect a large enough percentage of your salary, bonus and incentive income.

“ I have group coverage through my employer. I don’t need individual coverage.”

FICTION

Group long-term disability (LTD) coverage is a great start to protecting income; however, unless supplemented, it likely will not be enough in the event you become disabled. An individual disability insurance policy is a terrific supplement to the foundation that group LTD provides and can help ensure that you’re adequately protected.

Reasons to consider supplementing group coverage:

  • Benefit caps put in place for the entire group often leave high-earning employees with the least amount of income protection.
  • Coverage is generally basic and cannot be personalized to your individual needs because it is not individually owned.
  • Since coverage is not individually owned, you cannot take it with you when you change employers.
  • Group coverage can be changed or cancelled at any time by your employer or by the insurance provider.
  • When premiums are employer-paid, net benefits are reduced due to taxation, minimizing income replacement.
Can Group, Private Disability Policies Work Together?

Can Group, Private Disability Policies Work Together?

Loss of income from disability has the potential to cause financial hardship. Disability insurance can help.

Fill out this Contact Form to talk to an insurance professional about how you can protect yourself against the financial impact of a disability — and feel good about tomorrow.

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