Help Protect Your #1 Asset
Many people believe that Social Security or Workers’ Compensation will help them if they’re disabled. There is a false sense of security when it comes to the risk of becoming disabled. Most people think it won’t happen to them. Unfortunately, 2009 statistics from the Social Security Administration, Disability Benefits handbook, show that a 20 year old worker has a 3 in 10 chance of becoming disabled before they reach retirement. Disabilities not only occur because of accidents, but also from simple back injuries, cancer, heart disease and osteoporosis.
According to The Impact of Disability 2009 report by AHIP and The Life and Health Insurance Foundation, Social Security is designed to cover only longer-term disabilities and offers relatively modest disability income benefits. Workers’ Compensation only pays if your disability was due to an accident that occurred while you were working—and most disabilities leading to lost income do not involve work-related illness or injury.
Most things in life depend on the ability to earn an income: your home, everyday living expenses, child care and educational needs, retirement savings, etc. So, if an injury or illness prevents earning an income, what does one do to cover everyday living expenses? Generally, disability insurance is the best way to protect against the financial risks and uncertainties surrounding a disability. It’s important to get a policy that protects your chosen profession at the level of income that you’ll need. You want to be sure that benefits extend until your retirement and that your premiums are reasonable. Utilizing a group rated product generally ensures lower premiums.
How the AIA Trust Group Disability Income Insurance Plan Stacks Up
The AIA Trust Group Disability Income Insurance Plan has been specifically designed to meet the unique needs of architectural professionals and includes these valuable benefits:
- Protects your earning power. You can choose a monthly benefit up to $5,000.00 (up to 60% of your income) that can help cover office expenses, mortgage, car payments, medical bills or any other expenses.
- Pays benefits for the long haul. If you become disabled, the plan pays you benefits up to age 65 – unlike other plans that stop paying after a few years.
- Saves you money because your benefits are tax-free if you pay the premiums yourself.
- Features affordable group discounted rates based on the group buying power of the entire AIA membership.
The new AIA Trust website provides a thorough overview of the AIA Trust Group Long Term Disability Plan, including benefit details, rates and applications.