Title: 5 times long-term disability insurance makes sense | Haven Life
Headings: 5 times long-term disability insurance makes sense
5 times long-term disability insurance makes sense
A financial professional’s take on when it might make sense to consider purchasing long-term disability insurance.
1: You’re a working parent
2: You have a spouse dependent on your income
Warning...
3: You own a business
4: You have access to group coverage
5: You have no coverage (or no protection outside of insurance)
What impacts the cost of disability insurance?
Deciding if disability insurance is right for you
Life insurance needs aren't one-size-fits-all.
About Mary Beth Storjohann
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Content: Disability options can vary greatly in premium amount, especially when you’re shopping private versus group coverage. The more coverage you want up front, and the longer you want to receive benefits for if you become disabled, the higher the amount you will pay each year for your policy. Deciding if disability insurance is right for you
Speaking with a financial planner, as well as an agent from a reputable insurance company, can be a huge step in the right direction. Together, you can start to determine how much coverage you might need to take care of your necessary expenses in the event you become disabled, and what type of premium would fit into your budget. Life insurance needs aren't one-size-fits-all. Calculate your needs
Mary Beth Storjohann, CFP® and Founder of Workable Wealth, is an author, financial planner and accountability partner working to help clients in their 20s-40s across the country make smart, educated choices with their money. Her recent accolades include the “Top 40 Under 40” by Investment News, “10 young Advisors to Watch” by Financial Advisor Magazine, and “10 of the Best Personal Finance Experts on Twitter.” She frequently appears on NBC as a financial expert and her expertise has been featured in The Wall Street Journal, CNBC, Forbes and more. Opinions are her own. Haven Life Insurance Agency offers this as educational information.