How to Protect Your Income if Disabled from an Auto Accident, possibly for your lifetime.

The “Added-option Benefit concerning income loss” if disabled from an auto accident is a little-known option you can add to your auto insurance policy for a relatively small additional premium, yet it can provide you and your family important disability benefits of up to $700 per week.

  • 1st   Don’t Be Under-insured as to Income Loss Coverage: Basic coverage usually provides only one or two years of benefits.
  • 2nd The New Jersey No-Fault Insurance Law has been in effect for many years, yet we still find that most victims of auto accidents who become disabled are significantly under-Insured when the issue involves protecting their own income/earnings from loss.
  • 3rd  The Added-Option Benefit provides inexpensive lifetime Disability Income Insurance.
  • 4th  The Added-Option Benefit of the PIP coverage for Income Continuation benefits can provide a relatively inexpensive type of disability income insurance. Although such income benefit would be available only if a person is disabled from an auto accident, it provides an inexpensive means of protection against financial hardship if the disability is prolonged. You can purchase coverage up to $700 per week, and for an unlimited period if the disability is prolonged or permanent. If you compare the premium difference between the basic wage loss/income continuation benefit that provides benefits for only one or two years, with the premium cost for having that coverage last indefinitely – for as long as the disability persists – you will find that this is extremely economical and could be the most important insurance you can purchase.

Additional resources provided by the author

Contact your insurance agent for details on this important type of auto insurance benefit that very few people realize is available. The coverage amount should be in the amount of your weekly wage, but you should insist that the coverage be available indefinitely if your disability lasts more than one or two years. Having this added option – for possible income loss benefits for life – can save a family from financial ruin, and the additional premium is inexpensive. Insist on adding it to your auto policy.