At DRV Financial Services LLC, we believe that your ability to earn an income is one of your greatest assets. Disability Insurance is designed to replace a portion of your income if you become unable to work due to illness, injury, or accident — ensuring that your lifestyle and financial goals remain protected even when the unexpected happens.

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What Is Disability Insurance?

Disability insurance (also called disability coverage or income protection insurance) is a type of policy that protects your income in the event that, due to illness or injury, you are temporarily or permanently unable to work. This insurance provides you with a monthly payment (a portion of your regular salary) while you are disabled and unable to perform your job duties.

What is it used for?

Disability insurance is primarily used to:

• Partially replace your income if you’re unable to work due to an injury or illness.
• Cover essential expenses: housing, food, medications, transportation, etc.
• Prevent the depletion of savings or the accumulation of debt during periods without income.
• Maintain your standard of living while you recover or adjust to a new health condition.

Benefits of Disability Insurance:

Financial protection: Prevents an injury or illness from leaving you without income.
Flexibility: You can choose between short-term or long-term coverage.
Customization: Many policies allow you to adjust the percentage of your salary covered (typically between 50% and 70%).
Coverage for illnesses and accidents: Includes both physical and mental health conditions (depending on the policy terms).
Peace of mind: Knowing you’re protected reduces financial stress during difficult times.
Tax advantages: In some countries, premiums may be tax-deductible or benefits may be non-taxable (depending on local regulations).

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Types of Disability Insurance:

There are two main types, and sometimes additional variations are offered:

1. Short-Term Disability Insurance

• Benefit duration: Typically 3 to 6 months, though it can extend up to 1 year.
• Waiting period (elimination period): Usually short—0 to 14 days from the onset of disability.
• Typical coverage: 60% to 80% of your salary.

When to apply?

• Planned surgeries (e.g., C-section, knee surgery).
• Acute illnesses (e.g., severe flu, fractures).
• Maternity/paternity leave (in some plans).
• Temporary injuries that prevent you from working for weeks or months.

Ideal if you need quick coverage for brief work absences.

2. Long-Term Disability Insurance

• Benefit duration: Can last 2 years, 5 years, until retirement age, or even for life (depending on the policy).
• Waiting period: Longer—typically 30, 60, 90 days or more.
• Typical coverage: 50% to 70% of your salary.

When to apply?

• Chronic illnesses (e.g., cancer, multiple sclerosis).
• Severe injuries (e.g., spinal cord damage, stroke).
• Serious mental health conditions (e.g., major depression, bipolar disorder).
• Any condition that prevents you from working for several months or longer.

Essential for protecting your financial future against prolonged disabilities.

Group Disability Insurance

• Offered by many employers as part of their benefits package.
• Usually more affordable (or even free for the employee).

Limitations:

• Limited coverage.
• Not portable (you lose it when you leave your job).
• Benefits may be taxable.

Review the terms carefully: group plans often don’t cover your full salary or pre-existing conditions.

Individual Disability Insurance

• Purchased directly from an insurance company.
• More flexible and customizable.
• Portable: You keep it even if you change jobs.
• More expensive, but offers stronger protection.

Recommended if your employer doesn’t offer coverage or if you need enhanced protection.

Total vs. Partial Disability Insurance

• Total disability: You’re unable to perform any of your job duties.
• Partial disability: You can work part-time or in a different role, but with reduced income.

Some policies cover both; others cover only total disability. It’s crucial to review this clause carefully.

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Who Should Consider Disability Insurance?

This coverage is essential for:

• Employees without employer-provided disability plans.
• Self-employed professionals or small business owners.
• Individuals with dependents or household responsibilities.
• Anyone whose lifestyle depends on their active income.

Whether you’re a business owner, healthcare worker, contractor, or professional — Disability Insurance ensures your financial goals stay on track even if your health takes an unexpected turn.

Conclusion
Disability insurance is not a luxury—it’s a financial necessity for most people who rely on their ability to work. It protects your most valuable asset: your ability to earn an income.

• Use short-term disability for brief absences.
• Use long-term disability to protect yourself against serious, prolonged risks.
• Combine group and individual policies whenever possible.
• Always review *exclusions, waiting periods (elimination periods), and the policy’s definition of “disability.

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Why Choose DRV Financial Services LLC?

At DRV Financial Services LLC, we work with leading carriers and tailor every Disability Insurance plan to your profession, income level, and long-term objectives.
Our advisors help you find the right balance between affordability and protection, ensuring that your income remains secure no matter what life brings.

We make the process simple, transparent, and personal — so you can protect your income and your future with total confidence.

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Take Control of Your Financial Security

Unexpected events can happen at any time — but your income doesn’t have to stop when you can’t work.
Let our team help you design a Disability Insurance plan that keeps your goals within reach, even during the toughest moments.

Contact DRV Financial Services LLC today to schedule your personalized consultation and discover how affordable income protection can be.