business

Why Your Group LTD at Work Isn’t Enough

By Debbie Klimas
Why Your Group LTD at Work Isn’t Enough

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…

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Why “Own Occupation” Disability Insurance is Important

By Bob Bland
Why “Own Occupation” Disability Insurance is Important

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…

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Disability Insurance Basics

By Debbie Klimas
Disability Insurance Basics

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…

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