Disability insurance

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Disability Insurance
To determine whether you need a private disability policy over and above any other income protection you might have, add up all the benefits you are entitled to under employer benefits, government benefits, and any monthly income you could count on from other sources such as income from your savings. If the total approaches your required income after taxes, you can assume that, should total disability strike, you would be able to pay your day-to-day bills while recuperating. If the total from employer benefits, government benefits, and your own resources will not be close to your pre-disability, after-tax income and thus will not be adequate to support your family, you will want to consider buying additional disability insurance to make up the difference.

If you are an employer, consider a group policy for yourself and your employees. If you are self-employed, or if you work for a business that does not provide benefits under a group policy, an individual policy is a good idea. After all, if you do not receive disability benefits, your entire life may suffer. It is important to compare the policy provisions of the group plans with individual policies to determine which is best for your needs.

Bob Adams, CLU
Adams Insurance & Investment Strategies LLC.
P.O. Box 1855
Dover, NH 03821
Tel: 603.842.4333
Fax: 207.636.8200

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