We can help protect a portion of your paycheck from the unexpected that keeps you from working.
What is disability insurance?
Disability insurance is a type of insurance that provides you with a monthly payment benefit if you become disabled and are unable to work.
There are two common types of disability insurance policies to consider ² :
Two types of insurance
The main difference between long-term and short-term disability insurance is the length of time benefits may be payable.
Short-term disability policies typically cover a policyholder for up to a year, although some policies may extend longer than that³.
Long-term disability policies typically cover a policyholder for anywhere from two years up to the policyholder’s retirement age⁴.
If you suffer from a sickness or injury and cannot work, disability insurance can provide you with income to help you maintain your quality of life.
How much does our disability insurance cost?
The cost depends on many factors, some of which are— the monthly amount of disability payments you want, how long you want to receive monthly payments, how old you are, what type of job you do— all contribute to how much your disability policy will cost. You can find out how much you can expect to pay by using our online quote tool.
Protect yourself and those you love.
Our disability policy can help offset unforeseen costs in the event you can’t work.
Is disability insurance taxable?
Most people do not have to pay taxes on their disability benefits. If you made your premium payments with after-tax dollars, typically you are in this majority and will not be taxed on your benefit payments ⁶.
How does our disability insurance work?
Here are the major factors you should look for when considering a disability insurance policy:
How much you will receive each month if you are unable to work due to a disability.
Elimination or Waiting period
This is the time between when your disability occurs and the time when your monthly payments begin. Elimination periods we offer are 90 or 180 days.
The amount of time you receive benefits. You can choose a benefit term from five to 20 years.
This is used to determine whether your sickness or injury will qualify you for disability benefits.
The regular payments you make for your disability insurance policy⁵.
Once you are approved for a disability insurance policy, you will begin making regular premium payments. In the event you become disabled under the policy, you can submit a claim to us to review. If your claim is approved, you will begin receiving benefits after your waiting period.
How long does disability insurance last?
Our disability insurance policies can provide benefits to you based on your individual needs, from five to 20 years.
Let’s help you find out how much coverage you’ll need.Quote tool
Disability insurance advice & insights
If you are looking for more information on Disability Insurance, Guardian Direct has resources that you can use to help make an informed decision.
Disability Insurance Benefits
Disability Insurance Requirements
1 https://www.kiplinger.com/article/insurance/t012-c032-s014-dont-underestimate-need-for-disability-insurance.html, 2020
2 https://content.naic.org/article/consumer_insight_simplifying_complications_disability_insurance.htm, accessed April 2021
3 https://legalaidatwork.org/factsheet/short-term-and-long-term-disability-insurance-plans-and-benefit-programs-an-introduction, accessed February 2021
4 https://www.policygenius.com/disability-insurance/how-long-do-long-term-disability-insurance-benefits-last, 2018
5 https://content.naic.org/article/consumer_insight_simplifying_complications_disability_insurance.htm, accessed February 2021
6 https://www.trustedchoice.com/disability-insurance/taxes/is-long-term-taxable, 2019