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35 - Planning Controllables Part 7 - Security with Disability Income Insurance

35 - Planning Controllables Part 7 - Security with Disability Income Insurance

March 31, 2023

Ideal For: Forward-Thinking Individuals Who Identified the Need for Additional Disability Income Insurance in Post 11

Illuminating The Strategy: Taking proactive steps to sign up for Disability Income Insurance to ensure financial stability in the event of unforeseen circumstances.

Who Stands To Gain? Anyone interested in safeguarding their income in case of a disability can benefit from this strategy.

Your Next Move:

  1. Leverage Your Employer's Group Benefits: Ensure you capitalize on any Disability Income Insurance benefits offered through your workplace.

  2. Understand Social Security Benefits: While Social Security does offer disability income benefits, their definition of "disabled" can be restrictive. Familiarize yourself with their policies and understand how they compare to those of insurance companies.

  3. Consult a Licensed Insurance Broker: If you require additional coverage, partner with a licensed insurance broker in your state with access to various insurance companies.

  4. Consider a Longer Elimination Period: Choosing a longer waiting period before the benefits start could lead to savings on premiums.

  5. Evaluate Riders: Consider the benefits and costs of available riders (additional benefits you can add to your policy). Ensure you comprehend them before making a decision.

  6. Reach Out for Assistance: Contact us for help in evaluating your options and making the most informed choice.

By embracing these strategies, you can optimize your approach to disability income insurance and secure your financial future. Remember, preparation is the key to peace of mind.