Disability Insurance

DISABILITY INSURANCE: PLAN FOR THE UNEXPECTED

If you become injured or sick and are unable to work, you don’t want to worry about how you’ll purchase the necessities or cover next month’s mortgage. Disability insurance can help replace a significant portion of your income. It provides peace of mind, knowing that if something unexpected happens, you will still receive a monthly income.

To find out more about the benefits of disability insurance and how it could help you, call Weinstein Wealth Insurance Solutions, LLC today at 732-407-8063.

Protect Your Income

Like most Americans, your income is probably your biggest asset. Without it, it would be difficult to support yourself and your loved ones, as well as make preparations for the future. With disability insurance, you can protect your assets and keep moving forward with your life. If you become too sick or hurt to work, disability income insurance can help you avoid using your retirement savings to make it through this challenging time.

If your employer offers you a comprehensive package of benefits, you may have access to group disability insurance with your job. Most of these group plans cover short-term disability, which is a great starting point. However, it may not be enough coverage. Group plans typically only cover a portion of your income, have benefits that are usually subject to income tax, and end when you leave the company. Thus, you may want to supplement your group coverage with an individual disability insurance plan.

Short-Term vs. Long-Term Disability Insurance

It’s important to pay close attention to whether a disability income insurance plan offers long-term or short-term disability benefits. Short-term disability insurance pays you benefits sooner and for a shorter period of time than long-term disability insurance. Short-term disability insurance typically covers six months or less, whereas long-term disability insurance pays benefits for a far longer period, ranging from a few years to even a lifetime.

When deciding whether to purchase a short-term or long-term disability insurance plan, it is helpful to speak to an experienced financial advisor and weigh the advantages and disadvantages of both types.

Prepare for Your Future Today

The best time to buy disability insurance is now. Illness or injury can happen at any time, at any age. Since premiums are based partly on your age at the time of purchase, waiting to make this important decision could cost more. To speak with a financial advisor who truly cares, call Weinstein Wealth Insurance Solutions, LLC today at 732-407-8063.

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