Disability Insurance
For Individuals
Your income is your most valuable asset. Protecting your income allows you to continue to enjoy what it pays for - your home, your cars, your food, college and vacations - from now until the day you retire. Individual disability income insurance is the protection you need to help you maintain your lifestyle and protect your family's future if you should become too sick or hurt to work.
To help people understand the need for disability income insurance, what it is and how it helps families maintain financial stability, Principal Life developed the From Here to SecuritySM program - complete with a step-by-step educational booklet and interactive calculator. These tools, along with your financial representative can help you identify the amount of Individual Disability Income Insurance that will help you achieve your financial goals.
We also offer strategies for individuals with insurance coverage through their employers. For this strategic information, check out our Group Claim & Benefit Services section.
For Business Owners
If you are a business owner, the potential of a disability poses a triple threat:
- Keeping a roof over you and your family's heads - How long could the business continue to pay your personal salary? Individual Disability Income Insurance could help.
- Keeping your business' doors open - How will you cover your business expenses if you aren't there to bring in income? Overhead Expense Insurance could help.
- Keeping your investment intact - How will you get the funds to purchase a disabled co-owner's interest if he or she should become disabled? Disability Buy-Out Insurance could help.
- If you have employees, could they afford to live without a paycheck? If you provide group long-term disability insurance, it provides a great foundation for employees' income protection. However, the benefits are typically 60% of earned income before taxes. Additional coverage may be necessary to provide complete protection. In addition, when just three or more individuals with a common employer* obtain disability income insurance, all may be eligible to receive a premium discount - including you!
For more information on how to protect your employees, see our Group Disability Insurance section.
* South Dakota requires five.
Disability insurance has limitations and exclusions. For costs and complete details of coverage, contact your Principal Life financial representative.
Policy Form #s DI: HH641/HH700/HH750; OE: HH702; DBO: HH703
Approval #564882006
