Whether you are single, and don't have a second income to help pay your bills, or married and have a family to support, long term disability (LTD) insurance is a necessity. In fact, many financial professionals think disability insurance is more important than life insurance for professionals your age. Yet, it is one of the most overlooked types of insurance.
Consider these causes behind common disabilities for people your age: Car accidents, back injuries, pregnancy complications, fitness injuries, cancer, and vision loss. At any stage in life, anyone who works--married, single, with or without children--should consider long term disability insurance.
Your benefits from LTD insurance can help you pay for: medical co-pays, mortgage, rent, credit card bills, utilities, loans and other everyday expenses. And you can be covered for less than $8/month. Click here to see Frequently Asked Questions from your fellow AICPA members, including why employer plans may not have you covered, and more.
- Total and Partial Disability Option
- Coverage that you can take with you--even if you change jobs
- Coverage amounts up to $12,000/month
- Tax Free benefits: Under current Federal Income Tax rules, your monthly benefit is generally free from income tax (IRC Section 104)
- A "your occupation" definition of disability means you won't be forced into another line of work before receiving benefits
- Choice of waiting periods
- Other features, such as Cash Refunds, a Cost of Living Adjustment feature and Rehabilitation Program
Click here for more information.
