Disability insurance is a type of insurance policy that can supplement past income in the event of an accident or illness, resulting in a disability that prevents the insured individual from being able to work. The benefits can be provided on a monthly basis and can help the individual to maintain a consistent standard of living and help to pay for living expenses, as a result of that accident or illness. Each disability insurance policy is unique and can be tailored to fit the specific needs of the person seeking the insurance.
Primary disability insurance is integral to any wealth preservation strategy. Further, it can be cost effective, in light of the protections it affords. Comfort in the knowledge that income and standard of living can be protected in light of a debilitating illness or injury can be worth its weight in gold. The flexibility to allow your coverage to grow with your income can also be invaluable. Patrick Financial Group, L.L.C. can help you to select a policy that best suits your needs and goals.
- Distributions can be tax free, depending on the type of policy, as well as its terms and conditions
- Distributions may be on a monthly basis
- Potential rate guarantees up to age 67, depending on the terms and conditions of the policy
- Can be transportable if you leave your current job