1. 11 POINTS
    Steve Bartholomew
    General Manager, Wisconsin DI Center, Mequon, WI
    Disability insurance replaces a percentage of your gross monthly income, often in the 60% to 75% range. In some cases, with very high incomes, the percentage is lower, like 40% to 50%. Personally owned and personally paid disability insurance is usually a tax free benefit at time of claim; this is one reason for the reduced percentage. Another reason is that the insurance company must maintain an incentive for people to return to work; you should always make more money working than collecting disability insurance benefits.
    Answered on August 14, 2014
  2. 10968 POINTS
    Tim Wilhoit
    Owner, Your Friend 4 Life, Brentwood TN
    First understand there are two basic types of disability insurance. The first is a short term disability plan. These benefits are usually a fixed amount not to exceed 70% of your current income and can start paying almost immediately. These short term plans can pay daily, weekly or monthly but for a shorter period of time usually a few months to up to one year. The second type of disability is long term disability plans. These benefits have a longer elimination period usually 30-60-90-180-360 days before benefits commence but will pay for years or up to age 67 years old. Most long term plans will pay up to 70% of your current income at time of claim.
    Answered on August 14, 2014
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