What Pays the Bills If You Can't Work?
Your income funds everything — the mortgage, the groceries, the college savings, the retirement contributions. Individual disability insurance is the coverage that keeps those obligations met if an illness or injury takes you out of work for months or years.
I'm Richard Sweig, an independent disability insurance broker serving Westchester County and the broader New York tri-state area. I work with most major carriers, ask the right questions upfront, and find the policy that fits your occupation, your income, and your actual financial picture — not a generic quote pulled from a rate table.
New York is one of a handful of states that mandates short-term disability coverage for employees. That sounds reassuring until you see the numbers. The state benefit maxes out at $170 per week — a figure that hasn't kept pace with what it actually costs to live and work in Westchester County or anywhere in the tri-state area.
For most working professionals, that gap between what the state provides and what your household actually needs is substantial. A private individual disability policy is how you close it.
Own-Occupation vs. Any-Occupation: The Definition That Determines Your Benefit
Not all disability policies pay out the same way. The definition of disability written into your contract determines whether you collect — and for how long.
Own-occupation coverage
Own-occupation coverage pays benefits if you cannot perform the specific duties of your own occupation, even if you're capable of working in a different field. A surgeon who loses fine motor function collects under an own-occupation policy even if she could technically work as a medical consultant.
Any-occupation coverage
Any-occupation coverage pays only if you are unable to work in any occupation for which you are reasonably suited by education, training, or experience. This is a much harder standard to meet — and it's the definition embedded in most employer group plans.
For professionals, business owners, and self-employed individuals, own-occupation coverage is the standard worth holding out for. I'll walk you through what's available at your income level and in your field before you commit to anything.
Two Other Policy Terms That Shape Your Coverage
Elimination period. This is the waiting period between when a disability begins and when your benefits start. Common options are 30, 60, 90, or 180 days. A longer elimination period lowers your premium — but you need enough in reserve to cover that window. We'll look at your cash position before choosing.
Benefit period. This is how long your benefits pay out. Short-term policies may cover two or five years. Long-term policies can extend benefits to age 65 or 67 — which matters if you're disabled in your 40s and have two decades of earning years ahead of you.
Getting these two variables right matters as much as the coverage amount itself.
Every case handled directly by Richard — no handoffs, no call centers
Professionals with high income-to-expense ratios — physicians, attorneys, accountants, financial advisors
Self-employed individuals and sole proprietors with no employer plan to fall back on
Business owners whose personal income is tied directly to their ability to work
Employees with group disability coverage that hasn't been reviewed against their current salary and obligations
Anyone whose household runs on a single income
If you're in any of these categories and haven't reviewed your disability coverage recently, there's a good chance the gap is larger than you think.
Know the Gap Before You Need to Fill It
Many working professionals assume their employer's group disability plan covers them adequately. In most cases, it doesn't — for three reasons.
Group disability benefits are typically calculated on base salary only, excluding bonuses and commissions. The benefit is usually capped at 60% of that base. And because the employer pays the premiums, the benefit you receive is taxable income — which means your actual take-home replacement is closer to 40–45% of what you were earning.
For a professional earning $200,000 a year, that's a significant shortfall. An individual disability policy, purchased with after-tax dollars, pays out tax-free and can be structured to fill exactly what the group plan leaves behind.
Self-Employed? You're the Only Safety Net You Have
If you work for yourself, there's no HR department, no group plan, and no employer contribution. Your income stops the day you stop working. Individual disability insurance for the self-employed is structured around your documented income — typically through tax returns — and can include own-occupation definitions and benefit periods extending to age 65 or 67.
I've placed disability coverage for sole proprietors, independent contractors, and small business owners across New York and the tri-state area. If you're self-employed and uninsured against disability, this is the coverage gap that carries the most financial risk.
Common Questions About Individual Disability Insurance
Isn't my employer's disability insurance enough?
For most professionals, it isn't. Employer group plans typically replace 60% of base salary only — excluding bonuses and commissions — and because the employer pays the premium, the benefit is taxable. Your actual after-tax replacement is often closer to 40–45% of your income. An individual policy can be structured to fill that gap precisely.
What is own-occupation disability insurance?
Own-occupation coverage pays benefits if you can no longer perform the specific duties of your own occupation — even if you could technically work in another field. This is the more protective definition and is especially important for physicians, attorneys, and other professionals whose income is tied to a specialized skill set. Many employer group plans use an any-occupation definition instead, which is a much harder standard to meet.
Can I get disability insurance if I'm self-employed?
Yes. Individual disability policies are available to self-employed professionals and sole proprietors. Coverage is typically based on documented income from your tax returns. Own-occupation definitions and long benefit periods extending to age 65 or 67 are available in most cases, depending on your occupation and income level.
How much disability insurance do I need?
The standard target is 60–70% of your gross income, though the right number depends on your fixed monthly obligations, existing coverage, and how long you could sustain expenses during an elimination period. I'll walk through your actual numbers with you rather than applying a generic formula.
What does individual disability insurance cover?
A private disability policy replaces a portion of your earned income if a covered illness or injury prevents you from working. It covers your financial obligations — mortgage, living expenses, business costs — not medical bills directly. The specific conditions covered, the waiting period before benefits begin, and how long benefits last all depend on the policy terms we select together.
What's the difference between short-term and long-term disability insurance?
Short-term disability policies typically cover a period of weeks to two years. Long-term disability policies are designed for extended disabilities — benefit periods of five years, ten years, or through age 65 or 67. For most working professionals, long-term coverage is the more critical gap to address, particularly if an employer plan provides only short-term benefits.
Your Income Is Your Biggest Asset. Let's Make Sure It's Covered.
If you haven't reviewed your disability coverage recently — or if you've never had an individual policy — this is the conversation worth having before you need it. Call me at 914-248-6797, text 914-582-1152, or use the form below to schedule a time.