Help Protect Your Income with Disability Income Insurance - 0 views

• 
  #1 zenhunsick3r on 20 Jan 15

   

  The
  possibility of sustaining a long-term disability from an accident or illness is
  something most of us would rather not contemplate. Axis
  Capital Group in Jakarta understands this very well. However, there is a
  way to help protect yourself and your family should you lose your ability to
  earn an income and to stay away from fraud. Disability income insurance can
  play a key role in your overall financial plan, and provide a benefit to help
  replace a portion of your income in the event of a total disability.

  
  
  

   

  
  
  

  Evaluate and Review Your Needs

  
  
  

  While most
  people understand the necessity and value of life insurance, many may overlook
  the valuable role disability income insurance plays in helping to create
  financial security. How will you support yourself and your family if you cannot
  work as a result of an accident or illness? For most, Social Security cannot be
  solely relied on to replace lost wages. One must meet very specific criteria to
  qualify for disability benefits, and it is often necessary to wait several
  months for payments to begin.

  
  
  

   

  
  
  

  You may be
  able to "get by" for a few months on your savings, but if the disability is
  prolonged, you may exhaust most-or all-of your savings. Further financial
  hardships may then follow. You may miss mortgage, car, and other credit
  payments, causing damage to your credit rating. Utility bills, tuition, grocery
  bills, and business/professional expenses will also continue despite disability
  and loss of income.

  
  
  

   

  
  
  

  The bottom
  line is that losing your ability to earn an income may make it difficult to
  make ends meet. Disability income insurance can be a practical solution to help
  protect your financial security in the event you become disabled. Axis Capital,
  a group of companies with branch offices in Bermuda and around the world,
  provides Disability Income Insurance.

  
  
  

   

  
  
  

  Types of Coverage Available

  
  
  

  Depending on
  your income, the maximum coverage will typically replace 45% to 75% of your
  pre-disability earnings. The cost of the coverage will depend on such factors
  as the risk level of your occupation, your age, your health history, and the
  scope of coverage. Professionally employed individuals are typically in a lower
  risk category than those engaged in more physically demanding work. Individual
  disability income insurance is by application and is subject to underwriting
  approval.

  
  
  

   

  
  
  It should
  also be noted that when you pay the premiums (versus an employer-provided
  policy), the benefits from individual disability income policies is tax free.
  If your employer has a salary continuance plan, you should know the dollar
  amounts of coverage, the waiting period, and the length of payments, so you can
  coordinate your individual coverage with your employer-provided.

   

  <div class="cArrow"> </div><div class="cContentInner"><p>The <br /> possibility of sustaining a long-term disability from an accident or illness is <br /> something most of us would rather not contemplate. <a rel="nofollow" target="_blank" href="http://axiscapitalgroupinsurance.weebly.com/blog/category/axis-capital-group-tips-to-avoid-fraud-malaysia-jakarta-region">Axis <br /> Capital Group in Jakarta</a> understands this very well. However, there is a <br /> way to help protect yourself and your family should you lose your ability to <br /> earn an income and to stay away from fraud. Disability income insurance can <br /> play a key role in your overall financial plan, and provide a benefit to help <br /> replace a portion of your income in the event of a total disability.</p> <br /> <br /> <p> </p> <br /> <br /> <p><b>Evaluate and Review Your Needs</b></p> <br /> <br /> <p>While most <br /> people understand the necessity and value of life insurance, many may overlook <br /> the valuable role disability income insurance plays in helping to create <br /> financial security. How will you support yourself and your family if you cannot <br /> work as a result of an accident or illness? For most, Social Security cannot be <br /> solely relied on to replace lost wages. One must meet very specific criteria to <br /> qualify for disability benefits, and it is often necessary to wait several <br /> months for payments to begin.</p> <br /> <br /> <p> </p> <br /> <br /> <p>You may be <br /> able to "get by" for a few months on your savings, but if the disability is <br /> prolonged, you may exhaust most-or all-of your savings. Further financial <br /> hardships may then follow. You may miss mortgage, car, and other credit <br /> payments, causing damage to your credit rating. Utility bills, tuition, grocery <br /> bills, and business/professional expenses will also continue despite disability <br /> and loss of income.</p> <br /> <br /> <p> </p> <br /> <br /> <p>The bottom <br /> line is that losing your ability to earn an income may make it difficult to <br /> make ends meet. Disability income insurance can be a practical solution to help <br /> protect your financial security in the event you become disabled. Axis Capital, <br /> a group of companies with branch offices in Bermuda and around the world, <br /> provides Disability Income Insurance.</p> <br /> <br /> <p> </p> <br /> <br /> <p><b>Types of Coverage Available</b></p> <br /> <br /> <p>Depending on <br /> your income, the maximum coverage will typically replace 45% to 75% of your <br /> pre-disability earnings. The cost of the coverage will depend on such factors <br /> as the risk level of your occupation, your age, your health history, and the <br /> scope of coverage. Professionally employed individuals are typically in a lower <br /> risk category than those engaged in more physically demanding work. Individual <br /> disability income insurance is by application and is subject to underwriting <br /> approval.</p> <br /> <br /> <p> </p> <br /> <br /> It should <br /> also be noted that when you pay the premiums (versus an employer-provided <br /> policy), the benefits from individual disability income policies is tax free. <br /> If your employer has a salary continuance plan, you should know the dollar <br /> amounts of coverage, the waiting period, and the length of payments, so you can <br /> coordinate your individual coverage with your employer-provided.</div>

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