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Long Term Disability Broomfield CO

Pay attention to how disability is defined in any policy you are considering. Also pay attention to whether all kinds of disability are covered or if your insurance only covers disability due to accident. While you will pay less for disability coverage for accident only, any unexpected serious illness (like a heart attack for instance, which is often silent before you experience it), could also put you at risk for an extended inability to work.

Gary Kennington
7015 West 62nd Ave.
Arvada, CO
Company
Title: Financial Retirement Specialist
Years Experience
Years Experience: 20
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Medicaid,Annuities,Insurance & Risk Management Planning,Medicare Planning,Life Insurance,Annuity Ideas & Strategy Planning,Asset Protection Strategies & Planning,Health Care Insurance,Retirement Planning,Retirement Income Distribution Planning

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Will Killhour III
501 South Cherry Street
Denver, CO
Company
Company: Waddell & Reed
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Income for Life/ Preserve Principal,Alternative Investments,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Fee Only Portfolio Management,Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finance

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Farmers Insurance District Office
(303) 452-4440
11080 Circle Point Road Suite 170
Westminster , CO
 
COREdinated Movement
(720) 935-9497
555 Alter Street Unit B
Broomfield , CO
 
Planet Fitness
(303) 423-1605
9120 Wadsworth Parkway Suite 100
Westminster , CO
 
Perry Neva
1427 Glencoe St.
Denver, CO
Service
Estate Tax Planning,Asset Protection Strategies & Planning,Individual Income Tax Planning,Portfolio Engineering,High Yield Bank Accounts,401k Rollover From Employer,Income for Life/ Preserve Principal,Wealth Management,Medicaid,Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,Business Income Tax Planning,Fee-Only Comprehensive Financial Planning,Capt

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Kelmeg and Associates, Inc
(303) 466-9575
7050 W. 120th Avenue, Suite 205
Broomfield , CO
 
FIT Wellness Center
(303) 469-0353
1140 Hwy 287 #100
Broomfield , CO
 
SleepFit
(303) 404-8899
13654 Xavier Lane, Suite 201A
Broomfield , CO
 
LA Boxing
(303) 439-8269
10450 Town Center Drive
Westminster , CO
 
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Long Term Disability

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Long Term Disability

Long Term Disability (LTD) takes over where Short Term Disability (STD) leaves off. If you are sick or incapacitated for longer than six months, you will need to have long-term disability insurance. In most cases, STD coverage expires after 6 months of illness or injury that prevents you from working. At this point, if you don't have LTD, your benefit's will cease.

Long Term Disability continues to provide you with income replacement for the period defined by your policy. That could be anywhere from 2 to 3 years to the rest of your life. The benefit period depends on the type of coverage you've purchased.

Again, it's critical to know the details of your coverage long before you have a problem. What percentage of your salary will your insurance benefit provide? Is there any kind of cost of living adjustment if your disability continues for longer than a year or two? Do you have to keep paying premiums once you are disabled?

Pay attention to how disability is defined in any policy you are considering. Also pay attention to whether all kinds of disability are covered or if your insurance only covers disability due to accident. While you will pay less for disability coverage for accident only, any unexpected serious illness (like a heart attack for instance, which is often silent before you experience it), could also put you at risk for an extended inability to work.

Also, you should know if your long-term coverage takes into account other disability programs, like Social Security. If it does, your disability pay could be even lower than the percentage of your salary that is stated as your benefit. Since you can actually depend on receiving any benefit's from Social Security, given today's tougher rules to qualify, the inclusion of these benefit's will have reduced your payout and you could be left hanging for the difference.

You might think that this insurance is a waste of your money. Of course, you never want to have to col...

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