Long-term Disability Insurance

While we spend a lot of time discussing saving and investing, we also believe that protecting this foundation is critical. If you're working to provide for yourself or your family, you realize that one of your most valuable assets is your ability to earn income. That's why it's so important to protect this if you suddenly weren't able to work any longer. How would you and your family handle everyday bills, not to mention keeping your long-term savings and investing strategy intact?

If you experience a disabling injury or illness, disability insurance may be a solution to help you continue to meet your family’s financial needs. Disability insurance policies insure you against the loss of employment earnings if you aren't able to continue job duties because of an injury or sickness.

Features

• Coverage that more closely approaches your employment income level 
• Coverage of bonuses, commissions and other applicable compensation
• Portability – coverage that continues, even if you change jobs
• Survivor benefits
• Tax advantages, since benefits are generally tax-free
• Policy provisions that can't be canceled or changed as long as premiums are paid

Renewal options

• Noncancelable - This guarantees you the right to renew a policy for a certain number of years at a specific rate or premium.
• Guaranteed renewable - This guarantees you the right to renew a policy, but it allows the insurance company to adjust the premium at the time of renewal.

Definitions

• Own occupation - You are considered eligible for benefits if you are "unable to engage in the principle duties of your own occupation."
• Any occupation - You are considered for benefits only if you are "unable to perform the duties pertaining to any gainful occupation."

How we can help

Talk to your local financial advisor to learn more about which options might be best suited for you.