What it means
Disability and income replacement planning examines how cash flow might continue if you cannot work. Definitions, waiting periods, benefit periods, and occupation class all matter — and vary by product and carrier.
Concept
Disability / Income Replacement
How income replacement may work when illness or injury interrupts your ability to earn.
Who it is for
- Primary earners and dual-income households
- Specialists and professionals with high earning potential
- Business owners whose absence affects operations
Common misconceptions
- Myth: 'Social Security will cover me.' Reality: SSDI has strict definitions and waiting periods.
- Myth: 'Short-term disability from work is enough.' Reality: Long-term gaps are common.
- Myth: 'I can self-insure easily.' Reality: Extended disabilities can exceed savings plans.
Questions to ask
- What is my elimination period and benefit period?
- Does the definition of disability match my occupation?
- How does this coordinate with other benefits I have?
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