Disability Insurance

Disability insurance is designed to provide replacement income if you're unable to work due to illness or injury. It provides the financial protection to cover your expenses normally covered by your work income. This protection, an important facet of any retirement plan, should be considered for both the short and long term.

While many employers offer short-term disability coverage (usually up to two years), a long-term policy can protect you potentially until retirement or for life.

Long Term Care Insurance

Long term care is a combination of services directed toward meeting the needs of someone who, due to reduced physical functioning and/or reduced intellectual functioning, is unable to carry out everyday tasks without the help of another person.

Long term care goes beyond medical and nursing care to include all the assistance you could need if you ever have a chronic illness or disability that leaves you unable to care for yourself for an extended period of time - generally over 3 months. You can receive long-term care in a nursing home, assisted living facility, or in your own home. Though older people use the most long-term care services, a young or middle-aged person who has been in an accident or suffered a debilitating illness might also need long-term care.

• At age 65, people face at least a 40% risk of entering a nursing home at some point in their lifetime and about 10% will have a stay of five years or longer. (Source: AHIP, LTC Insurance, 2003)


• Because women generally outlive men by several years, they face a 50% greater likelihood than men of entering a nursing home after age 65. (Source: AHIP, LTC Insurance, 2002)