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Disability Insurance Policy Options Clemmons NC

Disability insurance varies widely. Some features of the policy may add value for you or may not. As usual, you must weigh your risk. Always remember that anything that increases risk for the insurance company will increase cost for you. So, if you want a larger percentage of your salary in benefit, it will cost you more.

John Medwin
1120 Old Ridge Rd.
East Bend, NC
Company
Title: Retirement Specialist
Company: Medwin & Associates
Education
Gardner Webb University
Years Experience
Years Experience: 15
Service
Stock Market Alternative,Wealth Management,Life Insurance,Long-Term Health Care Planning,Estate Tax Planning,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Retirement Planning,Insurance & Risk Management Planning,Education Funding & Financial Aid Planning,401k Rollover From Employer,Income for Life/ Preserve Principal,Alternative Investments,Annuities,Annuity Ideas & Strategy Planning,Asset Protection Strategies & Planning

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Passport Health Inc
(336) 768-0717
3722 Vest Mill Rd
Winston-Salem, NC
 
Salem Benefits Group
(336) 793-5943
723 Coliseum Dr
Winston-Salem, NC
 
Puckett III, Jody - State Farm Insurance Agent
(336) 759-0204
4680-D Brownsboro Road
Winston-Salem, NC
 
Ron Hughes
580 malcomb blvd.
Rutherford College, NC
Service
Medicaid,Annuities,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Medicare Planning,Life Insurance,Commission-Only Financial Planning (Full Disclosure),Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Health Care Insurance,Retirement Planning,Insurance & Risk Management Planning,Retirement Income Distribution Planning

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Community Employee Benefits
(336) 765-4980
3195 Maplewood Ave
Winston-Salem, NC
 
Hallmark Group
(336) 760-2545
3821 Derbyshire RD
Winston-Salem, NC
 
Cameron Insurance Services
(336) 896-0706
8030 N Point Blvd
Winston-Salem, NC
 
Clark Benefits Group
(336) 771-8600
3654 Cornell Blvd
Winston-Salem, NC
 
Jon Jonathan Gregory
5401 Plain View Hwy.
Dunn, NC
Service
CD Alternative,Health Care Insurance,Long-Term Health Care Planning,Asset Protection Strategies & Planning,Income for Life/ Preserve Principal,Disability Insurance,Annuities,Insurance & Risk Management Planning,High Yield Bank Accounts,Medicare Planning,Life Insurance,Annuity Ideas & Strategy Planning

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Disability Insurance Policy Options

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Disability Insurance Policy

Disability insurance varies widely. Some features of the policy may add value for you or may not. As usual, you must weigh your risk. Always remember that anything that increases risk for the insurance company will increase cost for you. So, if you want a larger percentage of your salary in benefit, it will cost you more. If you want a cost of living adjustment on your benefit's if they extend beyond a year or two, this will also cost you more. Anything that you do that requires the insurance company to adopt more risk will cost you more in premium.

There are a number of questions to ask yourself as you examine a potential policy. However, one of the most critical is to find out how disability is defined. Pay very close attention to this.

Some policies will pay benefit's as soon as you can't do the work of your regular job because of illness or accident. However, others only pay if you can't do ANY job suitable for your education and experience. This could mean that you are forced to take a job well below your current jobs income potential and yet you won't qualify for benefit's to top you up to your former salary. This is something to think about. If you don't have some kind of coverage that will continue while you are both job-hunting and completing your recovery, you could be in a significant financial bind.

Further, some policies will define disability in terms of your existing job for only a limited period say 2 or 3 years and then will expect you to retrain for another occupation. You may get benefit's while you re-train, but you may not. In any case, your benefit's will cease. Again, you must consider if this is the kind of coverage that will work for you and your family.

The Cadillac policy is to have payments continue for your lifetime. Obviously, any policy that would pay you for a lifetime after an incapacitating illness or accident will be more expensive. You will have to decide if that makes sense for you ...

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