Disability insurance, or income protection, is a type of insurance product that insures the policyholder’s income is subsidized in the event that the policyholder is prevented from completing their core work responsibilities and earning income.
Oftentimes, insurance products will protect against a specific loss, such as when a property and casualty insurance plan reimburses the policyholder for the value of the stolen property. However, in the case of disability insurance, this compensation relates to the lost income caused by a disability.
Many people think they will never be disabled. However, if they become disabled, and are unable to continue to work, their disability insurance would compensate them for a portion of their lost income provided that they qualify.
Disability insurance provides employees financial protection in the event that they become injured and are unable to work. At Lowcountry Insurance Advisors, we offer both short-term and long-term disability insurance at varying coverage limits to take care of injured staff members until they are able to return to work.
