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Disability and Your FinancesEighty-two percent of American workers either have no long-term disability income protection or have inadequate coverage.1 Yet people are more likely to have a disabling accident than to die in any given year.2
Employer
Plans May Fall Short Individual policies may offer some advantages. Any benefits are normally free of income taxes if you pay the policy premiums. And an individual policy provides protection for as long as you keep it in force. Many policies even offer a waiver of premium. You may want to consider purchasing an individual disability insurance policy to avoid having a disability trigger a financial crisis. 1)
Consumer Federation of America and American Council of Life Insurers, 2001 |
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