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Farm/Ranch Disability Insurance
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Farm/Ranch Disability Insurance

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Disability Insurance for the farm

Disability Insurance for the farm


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  • 1. DiSABiliTy inSurAnce For FArMerS & rAncHerS The majority of agricultural work injuries happen to eligible for disability insurance. In fact, Illinois Mutual the operator of the farm or a farm family member. makes it easy by allowing you to use acreage or herd size Despite this alarming fact, a large percentage of to determine the monthly benefit amount available when farmers do not have disability insurance. What would there is no verification of taxable income. you do if you became sick or hurt and unable to work? Illinois Mutual can help you prepare for the Farm Size Herd Size Benefit unexpected and ensure your livelihood is safe. (Acres) (Head) Amount Why do farmers lack coverage? 240+ 24-49 Up to $1,200 Most people insure their lives but not their incomes. 360+ 50-74 Up to $1,500 Many farmers capitalize on farm depreciation and expenses so little or no reportable income is shown for 500+ 75+ Up to $2,000 federal income tax purposes. Even so, farmers are usually How far does your income have to go? Take a minute to determine the total expenses your income has to cover. Individual DI Business Expense DI Mortgage/Rent $________________ Depreciation $________________ Car Payments ________________ Payroll Taxes ________________ Utilities ________________ Employee Salaries ________________ (gas, electric, phone, internet, cable) Groceries ________________ Property Taxes ________________ Health Insurance ________________ Utilities (out building’s gas, electric) ________________ Childcare/Education Needs ________________ Interest on Notes _______________ Credit Cards/Other Debt ________________ Monthly Total $________________ Spending Money/ (Business protection needed) Other Obligations ________________ Monthly Total $________________ (Income protection needed) E-262