If you cannot work due to injury or other illness, a disability insurance policy helps pay a portion of your income, usually between 50 and 70 percent. Disability income insurance from Dorsey & Associates LLC can help pay your everyday bills.
Disability insurance benefits can be used for any reason, including to help cover out-of-pocket medical expenses, make mortgage payments, pay for groceries, or cover childcare expenses.
There are two main types of disability insurance:
Short-term disability (STD) is designed to help replace your income for a limited time (typically three to six months) and may have a waiting period of just ten days.
Long-term disability (LTD) is designed to help replace your income for a longer period of time and can provide permanent financial support, depending on the policy. It may have a waiting period of three to six months.