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 - Steve Nearman


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The financial reality of life is that a disabled person could well be a much greater financial liability to himself/herself and his/her family than death.

Disability Insurance

What if we were to become disabled and couldn't do our job? How long can we go without earning a penny? Many companies automatically cover their employees for short-term and long-term disability, so you can receive a check for a portion of your salary while you are not working. But you may have to wait 30, 60, 90 or 180 days before that benefit kicks in and that benefit may not last forever and your disability might.

An insurance company with which we do business recently listed more than 100 causes of disabilities, most we have never even heard of. The company also reported that at all adult ages, sickness causes more long-term disabilities than accidents. In fact, between ages 30 and 50, 65% of all disabilities are due to sickness, according to the Society of Actuaries. Most people would name heart attack, stroke or cancer as the likely sicknesses to cause a disability, but there are so many more. And once you get one, getting insurance at that point is impossible or extremely expensive.

In determining disability insurance, the factors that are taken into account - whether it is an individual or a group - include your age and sex, your annual income, the type of job you have, how long a period you are willing to wait to receive benefits and how long those benefits will last. Other issues include: do you want to cover partial disability or total disability, and do you want an inflation rider. These are all issues that Nearman Financial Consulting takes into account when helping you decide whether you need disability insurance and how best to secure it.

Again, a company can secure disability - in most cases - for a lot less cost than if each of its individual employees applies separately. It makes sense, then, that if the company is not interested in paying for the benefit for all of its employees, that it asks the employees if they would like the coverage, then have the employees pay for it.

This also is true for long-term care insurance.


 
Nearman Financial
1005 Cameron Street
Old Town
Alexandria, VA 22314

Phone: 703-683-4660
Fax: 703-683-9433
Cell: 703-587-4321
Email: snearman@securitiesmail.com
 
Neither the information nor any opinion contained on this website constitutes a solicitation or offer by Nearman Financial Consulting Inc. or any entity named in this website to buy or sell any insurance, financial securities or investment products or services.

Securities offered through Representatives of Lincoln Financial Securities Corporation, Member FINRA and SIPC to residents of the District of Columbia and the states of Virginia, Maryland, West Virginia, Alabama, New Jersey, New York, North Carolina, Georgia, Florida, Arizona, Pennsylvania, Massachusetts and California. Advisory services are offered to residents of Virginia through representatives of Lincoln Financial Securities Corporation. Nearman Financial Consulting Inc. and Lincoln Financial Securities Corporation are not affiliated. In California, insurance may be offered through LFS Marketing & Insurance Sales Corporation. Some life insurance and annuity policies involved exclusions or limitations. For costs and complete details of coverage, contact your agent.