Disability Insurance

Disability insurance can replace a portion of your income if you're ever too sick or injured to work. Having the right policy in place will help you cover expenses and keep your financial plan on track so you can focus on getting better. It's important to know how a provider defines a disability as it will help you figure out the right level of coverage you might need. Talk to one of our advisors to learn more. Get matched today.

If you depend on your income, it's important to protect it. Disability insurance can close the gap between the coverage you have through your employer's group policy and what you'll need to maintain your lifestyle if you get sick or injured and can't work. See how much coverage you need.

You might think you don't need disability insurance if you have coverage through work. But in most cases, that only covers around 50-60% of your income (according to the US Bureau of Labor Statistics, National Compensation Survey: Employee Benefits in the United States, March 2021). Plus, you'll have to pay taxes on any payments you get from that coverage. But when you have your own policy, you can get closer to having 100% of your income covered, the payments you get will not be taxed, and you'll stay covered even if you change jobs. Calculate your coverage amount.

There is a disability insurance component to Social Security. But the benefit payments are likely to be lower and qualifying for benefits can be more difficult than with a private policy. Connect with an advisor.

Yes. While both will help you out financially if you're unable to work, they are used for different situations. Workers' compensation is a government-regulated program offered through most employers that provides benefits for a work-related injury or illness (e.g. you hurt your back in the warehouse). Disability insurance on the other hand, is typically individual coverage that will help replace lost income if you're unable to work due to an injury or illness outside of work (e.g. a serious car accident).

Want to know more? Read our article on the differences between workers' comp and disability insurance.

Disability insurance is generally quite affordable. In fact, most policies cost less than a daily cup of coffee.² When you buy a disability insurance policy, you pay a premium based on the length and type of coverage you choose, your health, the benefit amount, and other factors. Connect with an advisor.

Northwestern Mutual's disability insurance covers more people than ever before, including stay-at-home parents, caregivers, and part-time employees. Talk to an advisor about how disability insurance can help protect you.

There are two types of disability insurance policies, short-term and long-term. Short-term disability (STD) is usually provided by your employer and is designed to replace a portion of your income for a short period of time, like several months.

Long-term disability (LTD), which we offer, gives you coverage if you're out of work for a longer period of time because of a more severe or permanent disability. LTD is sometimes offered as a workplace benefit, but it's typically purchased as an individual policy. Coverage is designed to last for many years—even through retirement if needed.

LTD and STD policies work best in tandem because LTD doesn't kick in right away and there's an elimination period, while an STD policy kicks in more immediately.

Ask one of our advisors if a long-term disability policy is right for you. Get matched today.

For individuals, we offer long-term disability insurance that can help protect your income by replacing a portion of your paycheck if you're ever too sick or injured to work.

For business owners, we offer group disability that can help cover your overhead expenses and keep your business running if you or another key person becomes too sick or injured to do their job. It's also a valuable benefit you can offer employees to help attract and retain top talent.

An advisor can help you figure out how much coverage you'll need. Connect with one today.