Disability Insurance

Disability insurance can help to replace a portion of your income when you are sick or injured and unable to work. Some people refer to disability insurance as “paycheck protection.” Having adequate disability insurance can help provide a sense of security so that if the unexpected were to happen, you would still receive a regular income.

People are quick to insure their possessions, such as their home and car and also may have life insurance to protect their family in the event of their death.  However, your number one asset is your ability to get up every day and earn a living.  If something were to happen and prevented you from being able to work, even for a short time, would it have an impact on your financial security?

Did you know that an illness or accident will keep approximately 20% of workers out of work for at least a year before they reach age 65?  In addition, your chance of missing at least 90 days of work due to a disability is about one in three.

Think about the stress that would be created if you were disabled and not able to work. Having disability insurance could provide necessary replacement income, exactly when it is needed.

For more information about how to protect your income with disability insurance, contact us today.

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Are not deposits or other obligations of Berkshire Bank (the "bank") or any bank affiliate; Are not guaranteed, issued or underwritten by the FDIC, the bank or any bank affiliate; Are not insured by any agency of the US, the bank or any bank affiliate; Are not a condition to the provision or term of any banking service or activity; Need not be negotiated or purchased through any particular person as a condition of any financial transaction or service; May be purchased from any agent or company and the customer's choice will not affect current or future credit decisions; and Involve an investment risk, including possible loss of principal or loss of value. The market value of the investment may fluctuate, causing possible loss of principal amount invested.

 

Insurance is offered through Berkshire Insurance Group, Inc. Berkshire Insurance Group, Inc. is a licensed insurance agency and non bank affiliate of Berkshire Bank and is not a chartered bank or trust company, or depository institution. Berkshire Insurance Group, Inc. is not authorized to accept deposits or trust accounts and is not licensed or regulated by any state or federal banking authority.

 

Berkshire Insurance Group, Inc. is neither a tax nor legal advisor. We suggest you consult with your personal tax and/or legal advisor before making any tax-related or legal decisions. You should consider an annuity's risks, charges, and expenses carefully before investing. Annuity withdrawals made prior to age 59 1/2 may result in an IRS penalty. Consult with your tax advisor.

 

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