Your goal should be to replace as much of your pre-disability gross earnings as possible. The maximum amount of company disability insurance you can carry will generally only replace 60–70% of your gross income. You should consider purchasing the maximum amount of disability insurance through your employer, and, if necessary, purchase more insurance from a private carrier.
What If You Need More Disability Insurance?
If you only have the minimum disability coverage provided by an employer or you are self-employed, you can purchase an individual policy from an insurance company, enroll in a group plan offered through an association, or, if available, purchase more disability coverage from the employer. Here are some things to consider:
If you or your spouse is self-employed, make sure that you have adequate disability coverage.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC. Insurance products are offered through LPL or its licensed affiliates. Premier America Credit Union and Premier America Investment & Retirement Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Premier America Investment & Retirement Services, and may also be employees of Premier America Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of Premier America Credit Union or Premier America Investment & Retirement Services. CA Insurance License #0759204, TX Insurance License#1643255.
Securities and insurance offered through LPL or its affiliates are: