|It is rightly said that a person's greatest asset is not their home, car or any other material object, but their ability to earn an income. Annually, 12% of the population will face a long term disability. One in seven workers suffer at least a 5 year period of disability before they reach the age of 65. So who needs long term disability insurance?
Candidates for Indiana long term disability insurance are those who don't have ample savings to financially weather a long term period without an income. If you live paycheck to paycheck, like the majority of people in Indiana, then you need long term disability insurance.
Disability insurance costs on average are one to three percent of your annual income. The average policy pays out 60% of your income tax free when you become disabled. Disability insurance rates will vary on factors like occupation, health history, policy elimination period, benefit amount, benefit period and desired percentage of income to be replaced.