Friday, January 27th, 2012 | Finance
Quick Facts About Disability Insurance
§The sole purpose of individual disability insurance is to
replace your after-tax income in the event of an accident or
illness. These policies do not provide protection from medical
expenses or recovery of damages for 'pain and suffering'.
§Since the benefit payments are designed to be income tax-free,
insurance coverage in the amount of 2/3 of your salary is
roughly equivalent replacing your net take-home pay. This is
usually the maximum amount of ...
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