Editing Disability Income Protection (section)

== 10 Frequently Asked Questions (FAQ) ==

# '''What does disability income insurance cover?'''
#* It covers loss of income due to injury or illness, whether on or off the job.
# '''How much of my income is replaced?'''
#* Typically between 50% and 70% of your pre-disability earnings.
# '''Is disability income protection taxable?'''
#* If you pay the premiums with after-tax dollars, the benefits are usually tax-free.
# '''How long do benefits last?'''
#* Depending on the policy, benefits can last from a few years to up to retirement age.
# '''What's the difference between short-term and long-term disability insurance?'''
#* Short-term typically lasts up to 6 months, while long-term can last several years or until retirement.
# '''Can self-employed individuals get this coverage?'''
#* Absolutely. In fact, it's highly recommended for entrepreneurs and freelancers.
# '''How do I qualify for benefits?'''
#* You must meet the policy’s definition of disability and be unable to work due to a medical condition.
# '''What is an elimination period?'''
#* It's the waiting period before benefits begin, often 30 to 90 days after disability starts.
# '''Is group disability coverage enough?'''
#* Often, employer-provided plans are limited. A personal policy can provide more comprehensive coverage.
# '''Can I get coverage if I have a pre-existing condition?'''

* You may still qualify, but it could result in exclusions or higher premiums.