Disability-Income Insurance

Read more to learn about the options provided to you by MileOne for disability insurance.

Disability-income insurance provides financial benefits to a policyholder in the event of illness, accident or injury that inhibits the ability to work. With disability coverage, you are compensated for a portion of your lost income. Disability-income insurance is meant as a substitute of no more than 80% of income on a tax-free basis should illness keep you from earning an income in your occupation.

Our MileOne Short-Term Disability Options
MileOne offers two short-term disability plan options:

Option 1: A weekly benefit that equals 60% of your salary to a maximum benefit amount of $1,000 per week, beginning on the 8th day of absence due to accidental injury or illness. Benefits are payable for a maximum duration of 13 weeks.

Option 2: A weekly benefit that equals 60% of your salary to a maximum benefit amount of $1,000 per week, beginning on the 8th day of absence due to accidental injury or illness. Benefits are payable for a maximum duration of 26 weeks.

Why Is Disability Insurance so important?
The risk of disability is higher than most of us realize – one-in-three of us will experience a period of disability lasting longer than 90 days during our working lives. Even a temporary disability could affect your ability to work and take home a paycheck.

Without disability insurance to help cover your expenses, you and your family could find yourselves in financial trouble. Fifty-one percent of workers find it difficult to meet their financial obligations if their paycheck is delayed by a single week.

What Is Supplemental Disability Insurance?
Traditional medical insurance doesn’t cover every expense related to an injury or illness. Bills and expenses can continue to add up, especially if you have to stop working for a period of time and lose your income.

MileOne Long-Term Disability Option
If you remain disabled for 180 consecutive calendar days due to any one disabling injury or illness, you are eligible for long-term disability benefits. This coverage provides continued income that equals 60% of your salary to a maximum of $5,000 a month. These long-term disability benefits are payable until your Normal Retirement Age under the Social Security Act (if you remain disabled).