We at NorthStar Financial Partners believe in the financial planning process and the development of a strong financial plan. The foundation of a strong plan is having adequate liquidity and insurance to allow your long-term investment plan the time it needs to maximize returns and meet your goals.
Disability insurance helps to protect you and your loved ones from the unexpected loss of income due to sickness or injury. The most common thing we hear is, “I think I have that through my employer?” However, when is the last time that you have reviewed that coverage? Ask yourself a few questions:
- How much income does it cover?
- How do I qualify for a benefit, and how long does the benefit pay?
- How long could my family live on that income?
- What if I can work any job, but not my specific job, am I covered?
We find in most cases that it is prudent to have a supplemental policy that works with your employer’s coverage. This will ensure the questions above are not only answered, but your policy covers your specific needs. You will know that your policies properly protect you and your family.
If you would like to review your need for disability insurance, along with a review of your current coverage, please contact us today.