Your paycheck helps cover the things you rely on every day, from your mortgage or rent and groceries to utilities, car payments and other monthly expenses.

But what would happen if an illness or injury kept you from working for several weeks, months or even longer?

For many people, losing a paycheck could quickly create financial stress. That’s where disability insurance can help.

What Is Disability Insurance?

Disability insurance is designed to replace a portion of your income if a covered illness or injury prevents you from working.

Instead of paying medical bills, disability insurance provides income that you can use toward everyday expenses while you’re unable to earn your regular paycheck.

Short-Term vs. Long-Term Disability

There are two common types of disability coverage:

Short-term disability insurance generally provides benefits for a limited period of time when you’re temporarily unable to work because of a covered illness or injury.

Long-term disability insurance is designed for disabilities that last for an extended period and may provide benefits for several years or, depending on the policy, even longer.

Some employers provide disability coverage as an employee benefit. Individual disability insurance may also be available and can provide additional protection based on your personal needs.

Could Your Savings Cover an Extended Absence?

Think about your regular monthly expenses. How long could you continue paying them without your usual income?

Emergency savings, paid time off and other resources may help for a while, but an extended absence from work can have a much larger financial impact.

That’s why protecting your ability to earn an income can be an important part of your overall financial plan.

Take a Look at Your Income Protection

You insure your home, your car and your health. Your income deserves consideration, too.

Professional Insurance Programs can help you understand your disability insurance options and determine what type of coverage may fit your needs.