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The Importance of Long Term Disability


Written By: Joe Vogt


I believe in Long Term Disability.


If your income stopped tomorrow due to a disability, are you prepared?


I have seen first-hand the protection provided by a well-designed disability plan. I have also seen the devastating financial impact when individuals do not have properly designed disability protection or lack coverage completely.


In my opinion, Disability Insurance is the most important benefit you can secure. I say this because it protects your income when you are unable to work due to injury or illness. No one ever expects to become disabled, however, not insuring this risk can severely impact your lifestyle.


Less than 30% of all workers have any Long Term Disability coverage. Far fewer have a program that provides an adequate level of protection. Compare this with the fact that one in seven workers will qualify for Long Term Disability during their working career, the discrepancy in risk versus coverage is immense.


It is imperative that if you have Disability Insurance (group or Individual), you understand the features of your contract, the net take-home income you will receive during a disability and the gap between your needs and the actual benefit. If you do not currently have Long Term Disability Insurance, we strongly recommend looking into a policy that addresses your financial needs.


An evaluation of disability coverage is straight forward. A comparison of your income replacement level, taxation of the benefit, net take home pay while disabled, and contract provisions will provide a clear picture of the level of protection vs your needs.


We encourage you to review your disability policies in detail. We are available to assist you in this process or with any questions you have regarding Disability Insurance.

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