Disability Insurance

Disability insurance provides tax-free monthly income if an individual is unable to work due to a serious injury or illness.

This type of insurance is suitable for you if you are under age 60 with employment income and have insufficient liquid assets to sustain a loss of income due to a disabling injury or sickness.

Disability insurance offers the following features:

  • Monthly benefit amount – Generally up to 70% of employment income.
  • Waiting period – This is the period of time when no benefits are payable, usually 30 to 180 days.
  • Benefit period – This is the length of time when benefits are payable, beginning when the waiting period ends and generally payable until age 65, depending on the contract.
  • Waiver of premium – This built-in feature enables the premium to be waived after 90 days of disability.
  • Renewal provision – Indicates under what circumstances the policy can be renewed and if premiums can be raised. The most liberal definition is "Non-cancelable Guaranteed Renewable," which means the policy can be canceled only due to nonpayment of premium and the premium cannot be increased.

We can help

At Edward Jones, we can help you reach your financial goals. Contact your Edward Jones advisor.

Important information:

Insurance and annuities are offered by Edward Jones Insurance Agency (except in Québec). In Québec, insurance and annuities are offered by Edward Jones Insurance Agency (Québec) Inc.

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