Protect Your Income: Disability Insurance

Disabilities happen every day. According to the Disability Status Report published in 2010 by Cornell University, 40.4% of Americans between the age of 21 and 64 with a disability are unemployed. While these are not things we like to hear and talk about, these are numbers we cannot and should not ignore. Many people believe that Social Security or Workers’ Compensation will help them if they’re disabled. Unfortunately, Social Security disability benefits are limited.

According to Lifehappens.org, the average monthly disability benefit paid is only $1,063 and more than 39% of disability claims are denied. Workers’ Compensation only pays if your disability was due to an accident that occurred while you were working—but according to the National Safety Council, 73% of disabling accidents and illnesses aren’t work-related.

Many Americans are financially prepared for death with life insurance yet have no plan in place in the event of disability. While life insurance is very important, you should also be prepared for the possibility of a disability and its crippling financial repercussions.

Innocent little injuries and illnesses can knock you off your feet for months. Big ones could impact your health (and your ability to earn an income) for years. EVERYTHING can rest on your ability to earn an income. Your home. Your savings. Your children’s college education. Your hopes for retirement. Your dreams for the future.

It is important to have a backup plan in case of disability—which is why investing in disability insurance is such a wise decision. With the extra financial help that disability coverage provides, you and your family can get through tough financial times until you’re back on your feet.

The AIA Trust has developed affordable, top-notch Disability Insurance protection for you.

• AIA Trust Group Disability Income Insurance Plan
• AIA Trust Group Business Overhead Disability Insurance Plan
• AIA Firm Disability Insurance Plan

Why Consider AIA Trust Group’s Disability Plans?

Through group buying power of over 71 thousand members, the AIA Trust endorses several competitive plans with affordable rates and high benefit returns. The AIA Trust has worked with New York Life Insurance Company and Unum to create plans specifically for AIA members to help with tough financial times when a member finds himself or herself disabled and unable to perform the duties of the profession. It’s a dependable financial safety net that helps protect member earning power if you become disabled and you can’t bring home an income.

AIA Trust Group Disability Income Insurance Plan

With this plan, if a disability keeps you from working or earning an income, you can collect a selected disability benefit amount of up to $6,000 (in $100 increments), depending on your income (not to exceed 60% of your average monthly income).  Depending on your needs and financial plan, you can select between two disability plans: the Two-Year Plan and To Age 65 Plan.  This coverage can help to ensure your mortgage, groceries, and other essential expenses are covered while you recover.

AIA Trust Group Business Overhead Disability Insurance Plan

This plan is especially important for sole practitioners and single-professional firms. In addition, for those firms set up in a partnership, one’s portion of the ongoing expenses still continue whether or not he or she is working. This plan helps a member pay major office expenses like employee salaries, rent, business loans, utilities, professional membership fees, insurance premiums and other monthly business bills. If a firm owner becomes disabled, this plan would enable the firm to continue running until the owner is able to return to work because it provides up to $10,000 per month to help pay business expenses under a covered disability.

AIA Trust Firm Long-Term Disability Insurance Plan

An important part of retaining valuable employees is helping them secure protection against the financial risks and uncertainty that surrounds disability. This plan helps attract and retain the best people by offering a high level of benefits at competitive group rates. Considering the cost of lost wages due to long term illness or injury, your employees will value having disability coverage. With this plan, a firm can secure coverage for all of its employees that can pay up to 60% of gross monthly income up to $6,000 per month. Each employee is guaranteed acceptance and no medical exams are required. The firm pays an affordable group rate to cover all its employees.

Not all disabilities are long term and often one suffers from illnesses or injuries that temporarily prevent working but likely still have financial consequences. While recovering, it is best to know you are covered—and will receive benefits if you are out of work due to an injury or illness for at least 30 days.

What if it’s not the right plan?

The AIA Trust Group Disability Insurance Plans offer a money-back guarantee if you change your mind about coverage in the first 30 days. Just return the Certificate of Insurance without claim and we’ll promptly refund your premium, no questions asked.

For detailed information, including benefits, rates, limitations, and exclusions visit our Disability Insurance page.

The AIA Trust Disability Income Insurance Plan (Group Policy G-29059-4) and Business Overhead Disability Insurance Plan (Group Policy G-29059-2) are underwritten by New York Life Insurance Company, 51 Madison Avenue, New York, NY 10010. The AIA Trust Firm Disability Insurance Plan is underwritten by Unum. All benefits are subject to the terms and conditions of this policy.