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Why You Need Disability Insurance Anoka MN

In reality, only 50% of employers cover short-term disability, and only 40 % cover long-term. Further, it's getting harder and harder to qualify for government programs, as government money dries up and new rules make it tougher to get.

Roger Mathwig
2324 Rivendell Lane
Minnetonka, MN
Company
Title: Financial Advisor
Company: Mathwig Insurance Agency
Years Experience
Years Experience: 50
Service
401k Rollover From Employer,CD Alternative,Disability Insurance,Annuities,Commission-Only Financial Planning (Full Disclosure),Estate Tax Planning,Asset Protection Strategies & Planning,Life Settlements,Income for Life/ Preserve Principal,Medicaid,Life Insurance,Long-Term Health Care Planning,Planning For Personal Finances & Budgeting,Retirement Income Accumulation Planning,IRA, 401k, Roth IRA, QDRO Rollovers,Medicare Planning,Health Care Insurance,Retirement Planning,Annuity Ideas & Strategy Pl

Data Provided by:
Terry Nelson, CFP MS
1957 Lake Street
Roseville, MN
Company
Title: CFP, Investment Advisor
Company: Hometown Financial Planning
Type
Registered Investor: Yes
Education
College for Financial Planning - Masters Degree
MSU - BA in Finance
Eau Claire - Law Enforcement
Years Experience
Years Experience: 24
Service
Annuity Ideas & Strategy Planning,Retirement Income Distribution Planning,Education Funding & Financial Aid Planning,Fee-Only Comprehensive Financial Planning,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Medicare Planning,Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Planning For Personal Finances & Budgeting,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,401k Rollover From Employer,Income for Life/ Preserve Princip

Data Provided by:
Lisa Schurhammer
1700 2nd Ave No
Sauk Rapids, MN
Company
Title: President
Company: Retirement America, LLC
Type
Investment Advisor Rep: Yes
Service
Life Insurance,Investment & Portfolio Management,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Planning For Personal Finances & Budgeting,Asset Protection Strategies & Planning,Hourly Financial Planning Engagements,Medicare Planning,Retirement Planning,Real Estate Investment Planning,Commission-Only Financial Planning (Full Disclosure),Insurance & Risk Management Planning,Retirement Income Accumulation Planning,Individual Income Tax Planning,Wealth Management,Annuities,Alterna

Data Provided by:
YMCA
(612) 371-8700
30 South Ninth St
Minneapolis, MN
 
Calhoun Beach Club
(612) 927-9951
2925 Dean Pkwy.
Minneapolis, MN
 
Nathan Running
4021 Vernon Ave South
Saint Louis Park, MN
Company
Title: Wealth Advisor
Company: Running Wealth Management, Inc.
Type
Investment Advisor Rep: Yes
Education
Montana State University, BS Business Management and Economics
Years Experience
Years Experience: 12
Service
Life Insurance,Investment & Portfolio Management,Investment Consulting & Allocation Design,Business Succession & Liquidation Planning,Retirement Income Distribution Planning,Individual Income Tax Planning,Disability Insurance,Retirement Planning,Long-Term Health Care Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Fee-Only Comprehensive Financial Planning,Medicare Planning,Annuities,Alternative Asset Class Planning,Commission-Only Financial P

Data Provided by:
R. Brook Hansen
11132 Commerce Lane North
Champlin, MN
Company
Title: CLU ChFC AEP
Company: Select Client Services
Type
Investment Advisor Rep: Yes
Education
American College of Financial Services
Years Experience
Years Experience: 15
Service
Pension for Highly Compensated Owners,Stock Market Alternative,Wealth Management,Health Care Insurance,Retirement Planning,Real Estate Investment Planning,Annuity Ideas & Strategy Planning,Estate Tax Planning,Asset Protection Strategies & Planning,Life Settlements,IRA, 401k, Roth IRA, QDRO Rollovers,CD Alternative,Disability Insurance,Annuities,Alternative Asset Class Planning,Investment Consulting & Allocation Design,Insurance & Risk Management Planning,Retirement Income Accumulation Planning,4

Data Provided by:
Signature Employee Benefits
(218) 390-7877
1346 W Arrowhead Rd
Duluth, MN
 
Gibbs, Herb - State Farm Insurance Agent
(651) 484-7291
2724 N Rice Street
St. Paul, MN
 
John G Griep Ins Agcy Inc - State Farm Insurance Agent
(651) 698-0703
551 Snelling Avenue S
St. Paul, MN
 
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Why You Need Disability Insurance

Provided By: 

Why You Need Disability Insurance

Disability insurance is part of a solid financial plan for you and your family. Why? Disability can be financially devastating. Without disability insurance, your income is unprotected and your ability to meet your financial obligations could be at risk. The biggest issue with disability is that it comes out of the blue. No one plans to be disabled, either temporarily or permanently, but it does happen. Disability insurance ensures that if the unthinkable happens, you won't be devastated financially.

Your odds of dying in a given year are statistically 1 out of 106. Your odds of being temporarily or permanently disabled in a given year are 1 out of 8. Most of us would never think to drive without car insurance and yet your chance of being in a serious auto accident in a given year are 1 out of 70.

Based on statistics, if you plan for any disaster, it should be with disability insurance. The odds are higher that you'll need it.

In fact, statistics show that your chances of being disabled for 3 months or longer are much greater than your chances of dying prematurely! One reason for this is the success of the medical profession, which can now treat many conditions that would have been fatal in the past. In many cases, these new treatments will also mean a long convalescence period. Although it's good news that more people survive and even return to the working world after a serious illness or accident, it does mean that you have to plan for disability to be part of your working life.

So, what would happen if you did become disabled and couldnt work for days, months or even years? For anyone who is single, this would be a financial devastation. As a single person, you have no other means of support. If you are married, you may be able to get some support from your spouse, but would they be able to carry the full financial burden of the family alone? While you might think you work in a low risk job, you have to remember that illness can strike anyone and accidents can happen anywhere. For these reasons, if you or your family need your income in order to make ends meet, you should have disability insurance.

You may think that your financial needs could be adequately met through your disability coverage at work or through government programs like Social Security or Workers Compensation. However, you should really look at those assumptions and check what real coverage you have. In reality, only 50% of employers cover short-term disability, and only 40 % cover long-term. Further, it's getting harder and harder to qualify for government programs, as government money dries up and new rules make it tougher to get. Social security actually denies 50% of the claims that arrive in their offices. For that matter, keep in mind that workers compensation only applies to accidents or illness that occur because of the job and in the workplace. If you are hurt when you are not working, you won't qualify for this...

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