The recent presidential debates mention student loan burden, but never specifically the student loan burden for those with disabilities. There is a program called the Total and Permanent Disability (TPD) Discharge, which addresses debt burdens for those with disabilities.
You are well insured. Your house, your cars, your life are all insured. But what if the unspeakable happens? You become disabled and no longer have an income. Disability insurance helps you support yourself and your loved ones by providing income protection. Here are your options.
The Affordable Care Act is extremely detailed and confusing. How do you get ACA coverage if you have a summer and winter home, you work in one state and live in another, or you recently moved? Find out here.
Your ability to earn income is your most valuable asset. People tend to insure their property and their “things,” but frequently overlook the source that makes it possible to maintain their lifestyle—the ability to earn income. But what about disability insurance for the self-employed? Could it be extra important for them to have an income protection plan?
Disability insurance has a base policy. But they also have options that can be added to the standard policy. Optional “add-ons” to the base policy of disability insurance are called disability insurance riders. Riders allow consumers to individualize—to add optional features, which address their specific income protection needs.
Forty-six percent of adults say they either could not cover an emergency expense costing $400, or would cover it by selling something or borrowing money. This is attention-grabbing and a potential wake-up call for building an emergency fund. But an emergency fund is just the first step, financial preparedness, which includes disability awareness needs to be considered as soon as you cover your emergency funds.
Are you still using or anticipating using the four percent retirement rule? Maybe you ought to think twice before doing so. This rule was a great rule of thumb when it was created in the mid-90s up until about 10 years ago. Then interest rates plummeted, and with them, the efficacy of the four percent withdrawal rule.
With about half of all U.S. adults dealing with one or more chronic health conditions, critical illness coverage is something we should all consider.
If you want to protect your income to preserve the retirement you deserve, here are a handful of things to be wary of and guard against.
As we approach the holiday we have created to honor love, here are a few more good reasons to get income protection through disability insurance.