Disability Insurance

Your lifestyle: Something to think about.

When you’re healthy and working, it’s hard to imagine being disabled by illness or injury. But it can happen. In fact:

An individual’s chances of disability are 2 to 3 times greater than death during their working years.

  • One in 3 working Americans will become disabled for 90 days or more before age 65. *

  • The average disability absence is 2 and a half years. *

  • More than 80% of working Americans don’t have disability income insurance or aren’t covered adequately

Plan ahead to help protect your lifestyle. Then relax.

Short Term Disability Insurance

Short term disability coverage provides wage replacement to individuals who experience wage loss due to a disability. STD coverage lasts for up to one year.

How do you obtain short term disability (STD) coverage?

Short term disability coverage can be obtained either through a group or individually. Group coverage can be offered by an employer, professional group or association. Individual coverage can be purchased directly from an insurance broker based upon medical underwriting.

Who is eligible for short term disability (STD) coverage?

If short term disability coverage is offered from an employer, the individual must work for a specified period of time – known as a service wait – prior to becoming eligible for benefits. For professional or association-affiliated STD coverage, the individual must be a member of the group for a set period of time. Individual policies may be purchased directly from an insurance broker based upon medical underwriting. Individual policies are usually available if you have not had any medical treatment for a potentially disabling medical condition during the past 10 years. Medical treatment includes prescription medications and physician consultations.

Long Term Disability Insurance

Your lifestyle: Something to think about.

Long term disability coverage provides wage replacement to individuals who experience wage loss due to a disability. LTD coverage lasts for at least one year.

How do you obtain long term disability (LTD) coverage?

Long term disability coverage can be obtained either by a group or individually. Group coverage can be offered through an employer, professional group or association. Individual coverage can be purchased directly from an insurance broker based upon medical underwriting.

Individual policies are usually available if you have not had any medical treatment during the past 10 years for a potentially disabling medical condition. Medical treatment includes prescription medications and physician consultations.

Who is eligible for group long term disability (LTD) coverage?

If long term disability coverage is offered from an employer, the individual must work for a specified period of time – known as a service wait – prior to becoming eligible for benefits. For professional or association-affiliated LTD coverage the individual must be a member of the group for a set period of time.

Bozzuto Associates has flexible Disability Income Insurance policies that:
  • Provide monthly income to help maintain your standard of living
  • Can be customized to fit your particular situation
  • Help you retain independence and dignity without burdening others
  • Help keep your financial dreams and goals for the future intact.
  • Think you’re already protected?
Think about this:
  • Social Security disability payments are limited to disabilities expected to last at least 12 months or end in death. To qualify, you must be unable to engage in any type of work.
  • Personal Savings can best be used to build a comfortable future. Add up your monthly bills, then multiply by 12 and you can see how fast even substantial savings can be depleted by unexpected illness or injury.
  • Long-Term Disability Insurance offered through your employer is a start. But workplace disability benefits often times cover only about 50% of your income. Can your family survive on half of a paycheck?
Here are the other reasons why Group Long-Term Disability (LTD) may not be enough:
  • Group LTD usually covers only a portion of an employee’s compensation
  • LTD benefits are generally taxable if the employer pays the premiums
  • Many plans don’t cover bonus or incentive compensation
  • There is often a maximum monthly cap and, as a result, an employee’s monthly after-tax income during a disability may drop by 50% or more

What would happen if your paychecks suddenly stopped because you were too sick or injured to work? What if you couldn’t work for months – or years? You’d still have to pay all your monthly bills, including food, utilities, house and car payments. Add in things like tuition and retirement funding, and it’s easy to see how savings could quickly disappear.

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Unfortunately, you can’t rely on other income sources like Social Security to protect you. In many cases, they don’t apply — or aren’t enough. Unfortunately, you can’t rely on other income sources like Social Security to protect you. In many cases, they don’t apply — or aren’t enough.