Does Your Disability Income Insurance Fall Short?
Posted on January 13th, 2012
Because of the limits put on the benefit available under traditional disability income insurance, there are a lot of people who would fall well short of being able to maintain their lifestyle if disabled.
The standard of the industry is 60% of your salary, usually with a maximum of $16,600 a month which is 60% of $200,000. There is no benefit for bonuses, so if your salary was $200,000 and you got a bonus each year that ranged from $50,000 to $150,000, your disability income benefit would be capped at $16,600. If you made $100,000 and made a minimum $100,000 bonus every year, your maximum disability benefit would be based on $100,000, $8300 per month.
I know the 99% really dont care about this, but even those of us who arent in the top 1% income wise are capped in the same ways.
Tags: Disability Income, Disability Income Insurance, Income Insurance, Short
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