Many individuals commonly believe that in the event of a disability, there are many social programs that will come to the aid in the event of a need. While certain programs are available, it most always is a lengthy process in order to obtain any assistance, if approved at all. However, there are other avenues of protection such as disability insurance that can help you to maintain your current lifestyle if your ability to earn an income is ever limited based on an injury or condition. In Indiana, disability insurance is designed as income protection in the event you become injured or sick and cannot work.
These policies allow you to continue your current lifestyle based on coverage amounts that correlate with your own unique circumstances and occupation. Coverage is available through IMG to purchase protection, paying residual monthly benefits to age 67. This type of income can become crucial if you are no longer capable of continuing your work related responsibilities due to a physical or mental condition.
An additional rider can be added to your disability insurance policy to pay Business Overhead Expense benefits providing reimbursement of certain expenses incurred in the operation and ownership of a business, including employee salaries, benefits, and payroll taxes, as well as operating costs such as utilities, rent or interest payments on the business premises and equipment leases or depreciation. These features are available for business owners that are active participants in the management and ongoing operations of their businesses.
Many other additional riders are available to enrich the contract benefits as well, such as: Cost of Living Adjustment, Guaranteed Insurability, Non‐Cancelable Coverage, Non‐Integration Rider, Enhanced Partial Disability Rider, 60‐Month Own Occupation Rider, To‐Age‐65 Own Occupation Rider, Catastrophic Disability Benefit, and Survivor Return of Premium among many others. Working with your IMG Agent, can help you determine, and more thoroughly understand, which combination of benefits is best for your personal situation.
At IMG, we understand that life can be full of surprises. We stand behind you to support your aspirations as well as to protect them from anything that stands in the way. While we cannot predict the bumps and bends in the path of life ahead of us, we can do our best to prepare for the unexpected along the way and an Indiana disability insurance policy can help.