Disability insurance should be one of the key considerations of any sound financial plan. Working individuals are more prone to having some type of disability during their career than dying prematurely. However, disability insurance is passed over most of the time. We can work with you to determine if you need disability insurance and help you wade through the complexities of the different insurance options.
Do You Need Disability Insurance?
The Social Security Administration estimates that a 20-year-old has a 26.8 percent chance of being disabled for at least 12 months before reaching retirement at age 67. Disability insurance protects your ability to earn an income which is why it is so important. Disability insurance replaces a percentage of your lost income if you are unable to work for extended periods of time.
Does Your Existing Coverage Meet Your Needs?
Many companies offer a group short-term and long-term disability policy. It is important to know the terms of those policies. What is their definition of disability? How long would benefits pay if you became disabled? Do they have a cost of living rider? We can help determine if this coverage is comprehensive and meets your needs.
Is There a Better Policy Out There?
If your company does not offer an acceptable amount of coverage or offers no coverage at all, you may need to look into a customized individual private insurance plan. We can walk you through the process of finding the right fit for your plan.
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How much peace of mind can disability insurance bring you?