The most valuable thing you can own is your ability to provide for your family.
The most valuable thing you can own is not your car or your home, it is your ability to work and provide for your family. A VT Disability Insurance policy through Holden Insurance is popular for the self-employed contractor who is concerned about an injury preventing them from earning income while they are laid up. It is also added protection in the event someone is injured in a car accident or becomes seriously ill and can no longer work. We offer options for both short-term and long-term disability products on an individual and group basis. As an employer, providing disability insurance for your active full-time employees can be a small expense when compared to the big reward.
According to the Council for Disability Awareness about one in four of the 20-year-olds today have a chance of becoming disabled sometime before they retire with an average long-term disability absence of 2.5 years.
Types of Disability Policies
Let’s take a look at the Short-Term Disability Insurance policy. If you became disabled and could not work for two or three months, do you have enough savings to cover your living expenses during the time you are laid up? If you are like most Vermonters, the answer is no and you may want to consider short-term disability insurance. A typical short-term disability policy can provide you with 40 to 65 percent of your base salary. The benefit can last between three and six months depending on the terms of the policy.
A Long-Term Insurance policy will pick up when a short-term policy expires, providing extended income protection. The benefit of a long-term disability policy is typically 50 to 60 percent of your salary and can be paid until you go back to work or for the number of years stated in the policy. If you are disabled for 90 days or longer, most policies will waive your long-term disability premium payments while you are receiving benefits.
We invite you to consult with one of our financial insurance specialists to learn the benefits of Vermont Disability Insurance.