Income Insurance (Long-Term Disability)
What is Income Insurance?
Long-term disability (LTD) insurance — also called income protection — replaces a portion of your income if an illness or injury prevents you from working for an extended period. Coverage typically begins after an elimination period (such as 90 or 180 days) and can last for years, sometimes all the way to retirement age, depending on your policy.
Unlike workers’ compensation, which only applies to on-the-job injuries, LTD protects you on and off the job — covering the majority of disabling conditions that happen outside of work.
Why It’s Important?
Your ability to earn an income is your most valuable asset. If you lost it tomorrow, how long could you sustain your lifestyle?
1 in 4 workers will experience a disability before retirement age
Most disabilities are caused by illnesses like cancer, back problems, or heart disease — not workplace accidents
Group coverage (if offered) often only pays a fraction of income and rarely applies to high-limit earners or high-risk professions
LTD ensures you and your family can maintain financial security while you recover.
Suggested Coverage Limits
Industry standard is to replace up to 60% of your gross income. High-limit policies, available through WAIN, can extend this amount for higher-earning or high-risk individuals.
Example:
$100,000 annual income → recommended benefit: $5,000/month
$200,000 annual income → recommended benefit: $10,000/month
$400,000 annual income → with high-limit coverage: $20,000+/month
(Disclaimer: Benefits and limits are subject to underwriting and carrier maximums.)
Cost Summary
Disability insurance costs vary by age, health, occupation risk class, and benefit amount. On average, LTD premiums run 1–3% of annual income.
$100,000 annual income → $1,000–$3,000/year
$200,000 annual income → $2,000–$6,000/year
High-risk occupations (construction, aviation, healthcare, etc.) may see higher ranges
(Disclaimer: Figures are based on industry averages. Actual costs depend on underwriting.)
How WAIN Helps
WAIN specializes in high-risk | high-limit brokers. Our expertise is helping:
Construction professionals
Aviation and maritime workers
Healthcare providers
First responders and specialized professionals
We cut through underwriting barriers and bring you access to carriers that understand your unique risks and earning potential.
$200,000 annual income → $2,000–$6,000/year
High-risk occupations (construction, aviation, healthcare, etc.) may see higher ranges
(Disclaimer: Figures are based on industry averages. Actual costs depend on underwriting.)
FAQs
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Most LTD policies pay until age 65 or retirement, though shorter benefit periods (2–5 years) are available.
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Coverage begins after the elimination period — typically 90, 180, or 365 days after disability.
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Workers’ comp only applies to on-the-job injuries. Social Security Disability is difficult to qualify for and pays minimal benefits. LTD is designed to provide broader, reliable income replacement.
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Policies differ, but many high-quality LTD plans define disability as the inability to perform the material duties of your own occupation.
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Yes. Traditional carriers often decline or cap coverage for high-risk industries. WAIN specializes in connecting high-risk and high-limit individuals to specialty carriers that provide custom solutions.
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If you pay premiums with after-tax dollars, benefits are tax-free. If premiums are employer-paid with pre-tax dollars, benefits are taxable.