New York Disability Insurance

Most people insure their material possessions, such as their homes and cars. However, many of these same people don’t insure what is actually their most valuable asset – their ability to work and earn income.

If you become sick or are injured and cannot work, will you be able to pay your bills and maintain your standard of living?

If you depend on your income to finance bills, you should consider the benefits of enrolling in a New York disability insurance program. Your long-term disability insurance policy will help you receive the help you need to pay your bills, by replacing a portion of your income. Furthermore, safeguarding your income with a disability policy can help you maintain your current lifestyle and help protect you and your family from falling into serious debt.

Your chances of being disabled at some point during your working career are probably higher than you think. According to the Social Security Administration, studies show that a 20-year-old worker has a 3 in 10 chance of becoming disabled before reaching retirement age. Of course, the chances that any one individual will be disabled before retirement depends on many factors, including age, general health, and occupation.

After what is known as the elimination or waiting period – a set amount of time after the disability occurs – your New York disability insurance policy will begin paying a percentage of your income. This percentage is usually no more than 70% of your normal income. These payments will continue for the duration of your disability or until the time limit stated in the policy has been reached.

Interested in learning more about how you can begin to better protect your income and livelihood today? Contact Shadduck Agency to speak with an agent right now and receive your free New York State disability insurance quote!