Long Term Disability Archives - Consumer Insurance Guide

What are the Differences Between Short and Long Term Disability Insurance?

By Debbie Klimas
July 1, 2019March 7, 2022

If you’re looking for insurance to protect your income, the first decision you have to make is what type of insurance you need Disability insurance is a type of policy that provides an income in the event you become sick or injured and cannot work. The decision on whether you buy short-term disability insurance or long-term disability insurance will depend on what you’re trying to protect. Short Term Disability Insurance (STD) Short-term disability insurance is…

Why Your Group LTD at Work Isn’t Enough

By Debbie Klimas
June 15, 2019March 12, 2020

Many employers provide their employees with group long term disability insurance (LTD). While this is a nice benefit for employees, you should be aware of the pitfalls inherent in group LTD plans and how to shore those up. There are major differences between group and individual disability insurance plans, and a combination of the two usually provides the most comprehensive and cost effective coverage. Since your income is the most valuable tool you have for…

Why “Own Occupation” Disability Insurance is Important

By Bob Bland
June 12, 2019August 27, 2019

What is Own Occupation Disability Insurance? You may have heard that if you’re looking for disability insurance, you should be looking for “own occupation” coverage. In the past 20 years of working with clients to protect their income, I’ve heard it called “owner-occupation”, “owner-occupied”, “own-occ,” and a variety of other derivatives of the correct terminology “own occupation,” but the basic concept is that it’s a type of disability insurance that pays if you can’t do…

Disability Insurance Basics

By Debbie Klimas
January 4, 2019July 31, 2019

If you rely on your income, you need to protect it with a good disability insurance policy. Many people take this for granted, but consider the economic impact you have to your family: Annual salary: $50,000 Age: 35 Retire at age: 65 Earned income over 30 working years: $1,500,000 Do you have anything else in your possession that’s worth over $1,5000,000? If you did, wouldn’t you insure it against loss? That’s what disability insurance does…

Your House Is Full And You Need to Be a Multi-generational Insurance Expert

By Todd Halterman
March 17, 2017June 20, 2019

If your home is like a growing number of households these days, your “empty nest” is anything but empty. According to the latest data from the Pew Research Center, the number of us living in “multi-generational households” has more than doubled since 1980. That means families are adapting to a whole new model when it comes to day-to-day living. As Baby Boomers are tasked more and more with supporting their aging parents, accommodating their college-aged…

Anxiety Disorders and Disability Insurance

By Karla Sullivan
January 31, 2014June 21, 2019

Approximately 40 million American adults ages 18 and older—or 18.1 percent of the adult population—suffer from an anxiety disorder, according to new figures from the NIMH.