Long Term Disability Insurance

Long Term Disability is the inability to work due to illness or injury.  Becoming disable is a truly life changing event – long term disability insurance is purchased to reduce the financial impact.  Disability can be either total or partial, the definitions of which vary depending on the policy selected.  In addition, the amount of insurance payment is based on the earnings of the disabled individual, typically not exceeding about 60% of income prior to disability.

Some things to consider:

• What is the definition of disability?
• How long until I am able to collect the benefit (elimination period)?
• How long does the benefit last?
• What percentage of my income is replaced?
• How is my occupation defined?

Long Term Disability Insurance can be an important piece of your financial planning puzzle.  It can also be a bit confusing to set up properly, making sound advice and guidance that much more valuable.

Webb Insurance has extensive experience setting up both individual and group Long Term Disability Insurance plans.  For group plans, the benefit can be tailored to meet the needs of the business and recognize the diversity of incomes within the employer group while at the same time managing the cost of the plan.

Please contact us if you’d like to continue our conversation.