Redstone Federal Credit Union

r e d f c u.o r g | 9 R E D S T O N E I N S U R A N C E S E RV I C E S Redstone Services Group SM , LLC (RSG) d/b/a Redstone Insurance Services is a subsidiary of RFCU. Insurance products are issued by third-party companies, are not RFCU deposits or products, and are not NCUA insured. RFCU does not warrant, guarantee, or insure any product or service offered by RSG. An unexpected injury or illness is stressful! You wouldn't want to add to that stress the worry of how to make your mortgage payment or buy groceries if you were suddenly disabled and couldn't work. According to the Social Security Administration, 25% of 20-year-olds will experience a disability before retirement. How would you pay your bills and provide for your family? Would you have to take money out of retirement or dip into savings? Even if you have Disability Insurance through your employer, you might need additional coverage. TYPES OF DISABILITY INSURANCE ere are short-term and long-term policies. Both cover part of your salary, up to a limit, during a disability. › Short-term: May replace more than half your salary, gets paid out for several months to a year, and sometimes includes a short waiting period before benefits begin. › Long-term: May replace around half your salary, and benefits end when the disability does (or after a set number of years or at retirement); in this case, the waiting period can be up to 3 months. Depending on the policy, disability may mean that you can't work at all or that you can't do something in your line of work. Some policies cover partial disability, paying part of the benefit amount if you can work part-time, but other policies apply only if you can't work any job. HERE ARE SOME QUESTIONS TO CONSIDER: › How much income is needed to maintain your standard of living? › Can you wait to start receiving benefits? › How long do benefits need to last? › What do you consider to be a disability? PURCHASING DISABILITY INSURANCE According to the Council for Disability Awareness, the annual cost of a long- term policy is 1% to 3% of your annual income. Your age, health, and occupation factor into that amount. e benefits you choose are also a factor. If a quote is too high for your budget, you can increase the waiting period, reduce the payout timeline, or lower the benefit amount. Some employers and professional organizations offer Disability Insurance, but you can also buy an individual plan through an insurance broker. An individual plan may provide more options and allows you to keep the coverage if you change jobs. Redstone Insurance Services offers Disability Insurance because we want to ensure the best possible outcome for your family. We'll help you determine the right amount of coverage, with options tailored to your needs. How to Find the Right Disability Insurance Policy

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