Disability Insurance - Disability Income Insurance Plan Guide Elkton MD
Title: Certified Financial Planner"
Company: Morgan Stanley Smith Barney
Years Experience: 8
Captive Insurance,Life Settlements,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Hourly Financial Planning Engagements,Fee Only Portfolio Management,Wealth Engineering,Mortgage Refinancing,IRA, 401k, Roth IRA, QDRO Rol
Years Experience: 10
Pension for Highly Compensated Owners,Income for Life/ Preserve Principal,Disability Insurance,Annuities,Business Succession & Liquidation Planning,Retirement Income Accumulation Planning,IRA, 401k, Roth IRA, QDRO Rollovers,Medicare Planning,Life Insurance,Investment & Portfolio Management,Retirement Income Distribution Planning,Business Income Tax Planning,401k Rollover From Employer,Wealth Management,Health Care Insurance,Retirement Planning,Insurance & Risk Management Planning,Asset Protectio
Title: President, Wealth Management Advisor
Company: KingdomTrust Capital Management, Inc.
Howard University, Bachelor of Arts
Regent School of Divinity, Candidate: M.DIV
Denver College of Financial Planning
Years Experience: 15
High Yield Bank Accounts,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Alternative Investments,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Fee-Only Comprehensive Financial Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Commi
Owings Mills, MD
Title: Financial Consultant
Company: Landis Financial Services
Investment Advisor Rep: Yes
Michigan State University/ BA
401k Rollover From Employer,Income for Life/ Preserve Principal,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Stock Market Alternative,Medicaid,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Ind
Disability Insurance - Disability Income Insurance Plan Guide
Disability insurance is a specialized form of health insurance. Disability insurance protects you in the case of loss of income. If you lose your ability to work, either from temporary or permanent disability, a disability claim can be made.
While most people consider disability insurance a 'luxury' the fact of the matter is what would you do if you couldn't work for the rest of your life? How would you cope financially? Everyday we read of accidents or other mishaps which leave a person paralyzed or worse. Disability insurance is the insurance that would guarantee you an income in the case that you could not work.
Are you thinking that social security would cover you?
Think again. The benefit's are notoriously limited. And the majority of social security disability claims each year are turned down. Think disability insurance.
What about Workers Compensation?
Workers Compensation only kicks in if you are hurt on the job. Your chances of being hurt when you are playing weekend sports are higher than your chance of being hurt on the job. Think disability insurance.
You may get some money if you are hurt in a car accident, because of personal liability insurance . However, there are no guarantees and you could be waiting years for a lawsuit to be settled.
Let's think a less disastrous situation. Even if you aren't worried about a catastrophic accident or illness, what if you broke your leg in three places skiing and couldn't work because you were in traction? What if you tore a ligament, while playing on that weekend co-ed baseball team, and had to have surgery. You'd be out of commission for awhile. Disability insurance can also replace lost income on a temporary basis, while you heal from the hazards of being a "weekend warrior".
Even if you have medical coverage a long illness without earnings can be financially devastating. Statistics vary, but you have anywhere from a 1 in 5 to a 1 in 3 chance of having either an illness or accident which prevent you from working for 90 days or more; between the ages of 40 and 65. Your chance of dying in the same period is about 1 in 7. Some statistics claim that the average long term loss of your ability to work is 5 years. That's a long time.
This is why, if you are the sole breadwinner in your family, you should be considering disability insurance . If you get laid up or seriously injured your family's ability to cope financially would be jeopardized.