How Much Can You “Benefit”?Determining the amount of disability insurance benefits you may qualify for is not always as simple as establishing monthly expense and monthly income numbers. There are other factors that go into establishing a DI policy for you – and believe it or not, the maximum amount
Protecting AssetsLike life insurance, disability insurance is designed to protect you and your family in the event you lose your income. Life insurance protects an income loss is due to death. Disability insurance (or DI) covers loss of income is due to sickness or injury.Determining the amount of
Elimination and Benefit PeriodsWhen you’re shopping for the best disability policy for your needs, it’s clear that the monthly premium will become a factor in determining the type of policy and the company from which you take out the policy. The two main factors that can affect your premium the
Getting the Right Size UmbrellaOne of America’s foremost financial counselors, Dave Ramsey, says, “It’s gonna rain. You need an umbrella.”Of course, he was referring to having an emergency fund of cash available. But the same truth can be applied to having disability insurance. Maybe you’re not
Apples to ApplesHave you conducted a needs analysis for disability insurance with your agent or broker? Do you have an idea how much DI you would probably need for you and your family to survive with an extended disability? Were you sufficiently awed by the numbers that you are ready to take the
Critical Care Comes at a CostMost people are highly optimistic that they won't get into a serious accident or fall to a serious illness in their lifetime. But nobody is immune to life-altering events, such as heart attacks, strokes, or cancer. As a pysician, you are certainly aware that illness and
The Expressway to Broke?You might have read another post on this blog that mocked your perceived invincibility if you’re a youngin’ (age 50 or under). The very short version of this post was that the younger you are, the higher the odds that you will become disabled for at least 90 days, suffering
China Truly Was On To SomethingChina has been a country for the most part cloaked in mystery. However, we do know that China was a hotbed of innovation and invention thousands of years ago. But perhaps one of the great China innovations that many may not know has to do with disability insurance.