Disability Income

While most Americans insure their cars, homes and possessions, many overlook their most valuable asset - the ability to earn an income. No one likes to think about becoming disabled. But what would happen if you became sick or hurt and unable to work? Who would run your business? Could you pay your monthly household or business expenses?  
 

That’s where disability income insurance comes in. A Disability Income insurance policy ensures you’re adequately prepared for any possibility and that you’ll receive an income while you’re disabled.   
 
General Disability Income Insurance 
 
The General Disability Income policy* provides a monthly income for total and partial disability. The amount of monthly benefit which may be issued is determined by the insured’s earned income. It has a two-year Own Occupation definition of disability. It is guaranteed renewable. Elimination periods are the same for sickness and injury: 30, 60, 90 or 180 days. Benefit durations can be 1 year (issued as a rider), 2 years (issued as a rider or a separate policy), 5 years or to age 67. Rates are determined by age, sex, tobacco usage and occupation class.    
 
Farmers and Agribusiness Owners
 
The Farmers Disability Income policy* provides monthly income for total and partial disability to those who are self-employed in agribusiness or work for a family member owned agribusiness. The amount of monthy benefit is determined by the insured’s earned income. It has a two-year Own Occupation definition of disability. It is guaranteed renewable. Elimination periods are the same for sickness and injury: 30, 60, 90 or 180 days. Benefit durations can be 1 year (issued as a rider), 2 years (issued as a rider or a separate policy), 5 years or to age 67. Rates are determined by age, sex, tobacco usage and occupation class.  
 
Business Owners Disability Income
 
The Business Owners Disability Income (BODI) policy* provides monthly income for total and partial disability to those who are self-employed or works for a family-member-owned business, such as carpenters, electricians, HVAC installers and landscape gardeners or merchant/owners of retail and service stores . The amount of monthly benefit which may be issued is determined by the insured’s earned income. It has a two-year Own Occupation definition of disability. It is guaranteed renewable. Elimination periods are the same for sickness and injury: 30, 60, 90 or 180 days. Benefit durations can be 1 year (issued as a rider), 2 years (issued as a rider or a separate policy), 5 years or to age 67. Rates are determined by age, sex, tobacco usage and occupation class.  
 
Business Overhead Expense
 
The Business Overhead Expense (BOE) policy* is designed to help the small business owner keep his/her business viable during a time of disability by reimbursing the business owner for monthly business expenses such as rent, utilities, property and payroll taxes. This product completes a comprehensive income protection package when sold in addition to a BODI policy. BOE provides monthly benefits for total and partial disability. The amount of monthly benefit which may be issued is determined by the amount of the insured’s business expenses. It has a two-year Own Occupation definition of disability. It is guaranteed renewable. Elimination periods are the same for sickness and injury: 30, 60, 90 or 180 days. Benefit durations can be 12, 18 or 24 months. Rates are determined by age, sex, tobacco usage and occupation class.