Disability Insurance, often called DI or disability income insurance, or income protection, is a form of insurance that insures the beneficiary’s earned income against the risk that a disability creates a barrier for a worker to complete the core functions of their work.
When building a financial safety net, many people look to protect against the unknown with life insurance and health insurance. But your ability to earn income is your greatest asset and is crucial to any financial plan; if you’re unable to work, how do you plan for the future or meet your immediate needs, like paying bills?
Disability insurance can help. It’s income protection that keeps money coming in when you can’t work due to illness or injury. Disability insurance comes in long-term, and short-term versions.