Cigna Disability Insurance: Protection for Your Financial Future

Disability is something that everyone wishes to avoid. However, no matter how careful and cautious we are in life, unexpected things happen. In fact, 1 in 4 workers will become disabled before they retire. When disability strikes, it can have a significant impact on your life – both physically and financially. To help protect your financial future, Cigna offers disability insurance. In this article, we will dive into the details of Cigna disability insurance and why it is an important consideration for your financial planning.

What is Cigna Disability Insurance?

Cigna disability insurance is designed to provide financial protection to individuals who become disabled and are unable to work. The policy pays a portion of the insured individual’s income in the event that they are unable to work due to a covered disability. Disability insurance can help you maintain your standard of living and cover your expenses, even when you are unable to work.

How does Cigna Disability Insurance work?

Cigna disability insurance is very straightforward. You choose a monthly benefit amount that you would like to receive if you become disabled. This benefit amount is based on a percentage of your pre-disability income. In the event that you become disabled, you file a claim and begin receiving your monthly benefit amount. Cigna continues to pay your monthly benefit amount until you are no longer disabled, or until your policy expires.

What types of disabilities are covered by Cigna Disability Insurance?

Cigna disability insurance covers disabilities that prevent you from working. The policy covers both total and partial disabilities. Total disability occurs when you are unable to perform the material and substantial duties of your occupation. Partial disability occurs when you are able to perform some, but not all, of the material and substantial duties of your occupation. Cigna also covers disabilities caused by both sickness and injury.

How much does Cigna Disability Insurance cost?

The cost of Cigna disability insurance varies depending on a number of factors, including your age, health, occupation, and the amount of coverage you choose. Generally, disability insurance costs range from 1-3% of your annual income. While disability insurance may seem expensive, it is important to remember that it can be a financial lifesaver in the event that you become disabled.

How long does Cigna Disability Insurance coverage last?

The length of Cigna disability insurance coverage varies. You can choose the length of coverage when you purchase your policy. Common options include coverage until age 65 or 67, or coverage until you can receive social security benefits.

Why is Cigna Disability Insurance important?

Cigna disability insurance is important for several reasons. The most obvious reason is that it provides financial protection in the event that you become disabled. Disability insurance can help you maintain your standard of living and cover your expenses while you are unable to work. Additionally, disability insurance can help you avoid dipping into retirement savings or other investments to cover your living expenses while you are disabled.

Another reason why Cigna disability insurance is important is that it can provide peace of mind. Disability can happen to anyone at any time. Knowing that you have a financial safety net in the event of disability can give you the peace of mind to focus on your recovery.

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The Bottom Line

Cigna disability insurance is an important consideration for your financial planning. Disability can happen to anyone at any time, and having a financial safety net in the event of disability can give you the peace of mind to focus on your recovery. If you are interested in purchasing Cigna disability insurance, be sure to do your research and choose a policy that meets your needs and budget.