Is Supplemental Disability Insurance Worth It?

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One response to “Is Supplemental Disability Insurance Worth It?”

1. 

   May 25, 2013

   Peggy Mace

   Is Supplemental Disability Insurance worth it? That is a great question. If you need almost all your income to support your family’s lifestyle and home, then it certainly could be worth it for you. Group Disability Insurance can end up paying you only 45% of your income, after taxes, and has restrictive features that a Supplemental Disability Insurance policy will expand upon. Also, Supplemental Disability Insurance can bump the amount you would get paid during a disability to 70% to 80% of your income. Finally, Supplemental Disability Insurance is generally portable whereas group DI policies generally are not portable. So purchasing Supplemental Life Insurance while you are still insurable can ensure having Disability coverage for the rest of your life.