A serious illness or injury can harm more than your health…it can have an impact on your ability to work and meet your family’s living expenses. Sadly overlooked, long-term disability income insurance can help you pay living expenses while you are unable to work.
Read on for some tips on purchasing long-term disability insurance, use an online long-term, review the long-term care checklist, and much more.
Don’t wait to formulate a long-term plan for you or other family members. Please contact us for a private discussion to review your next best steps.
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Long Term Disability Income Insurance
Financial Protection for You & Your Family
A serious illness or injury can harm more than your health-it can have an impact on your ability to work and meet your family’s living expenses.
Long-term disability income insurance helps you pay living expenses while you are unable to work.
It offers paycheck protection providing cash directly to you for spending on mortgage payments or rent, groceries, utility bills, car payments, or whatever else you choose. A policy also can pay for training or other assistance you may need to return to work.
Tips On Purchasing
Examine how the policy defines a disability. Some policies pay benefits if you are unable to complete the duties of any occupation for which you are reasonably qualified by training, experience, and education. Others pay benefits if you are unable to perform the major duties of your own occupation. Some policies also pay benefits if you become ill or injured and are unable to earn a specified percentage of your income.
Ask for outlines of coverage so you can compare the features of several policies. Make sure you fully understand any policy you are considering-a policy that does not provide the protection you need is not a good buy. Features to look for in a policy include:
Disability, The Insurance That Is Often Sadly Overlooked
It took just 17 days for Cindy Wrenn to realize that her disability insurance premium was not just another drain on her checking account. One-third of American workers are likely to be disabled for an extended period, and she became one of them when she had a stroke and brain aneurysm at age 28.
Mrs. Wrenn signed up for her long-term disability insurance policy in February 2002, as a supplement to the one she had through her job as a licensed title agent. After her medical emergency, the policies paid 70 percent of her salary for the six months it took her to get back to work full time.
Long-Term Care Planning Tool
Welcome to the Long-Term Care Planning tool. The primary goal of this tool is to help you understand:
- What long-term care services are available,
- How much you can expect to pay for long-term care, and
- What financing options are available to support your long-term care costs.
The results of the Long-Term Care Planning tool are general in nature and not intended to replace comprehensive financial and other long-term personal planning.
This tool will ask between twelve and twenty questions and will then provide you with the long-term care results you need by comparing your answers to those of individuals with similar profiles.