Is your paycheck protected? If something were to happen, how long could you survive on your savings? Unfortunately, the answer to that question is more often than not, 2 weeks or 30 days. Long Term Disability Insurance replaces a portion of your income during an extended period of a disabling illness or accident.

If you already have insurance with your work, do you know the specifics of it? Are you planning on working there the rest of your life? You can bring your current work policy in and we’ll explain it to you so you can better understand what you already have.

Disability Income Insurance is important and it may not be as expensive as you think.

Disability Insurance 101

The links to articles, other websites and interactive resources are provided for your information and strictly as a courtesy. Our providing access to these resources does not constitute an endorsement, approval or certification of the information, services, strategies, recommendations, or opinions presented, published, or made available at or through these websites and resources. We specifically make no representation as to, and disclaim any responsibility for, their completeness, accuracy, or applicability to your personal circumstances. When you access one of these websites, you are leaving our website and assume total responsibility and risk for your use of the websites to which you are linking.



Coverage for individuals
We work with many companies that offer products for individual policies are available for people in nearly all occupations.  Whether you’re a doctor, cabinetmaker, executive, teacher or technician, your representative can design a disability income insurance policy to meet your needs and budget.

Owning a disability income protection policy offers several significant benefits:

Income Replacement: Perhaps the most critical benefit of disability income protection is replacing a portion of your income if you become unable to work due to a disabling injury or illness. This ensures that you can continue to meet your financial obligations, such as mortgage or rent payments, utility bills, groceries, and other living expenses, even if you're unable to earn an income through employment.

Financial Security: Disability income protection provides a safety net that can help you maintain financial stability during a period of disability. Without this coverage, a disability could lead to financial hardship, draining savings, accumulating debt, or even facing foreclosure or bankruptcy.

Customizable Coverage: Disability income protection policies are often customizable to fit your individual needs and budget. You can typically choose the benefit amount, waiting period (also known as the elimination period), and benefit period to align with your financial situation and risk tolerance.

Protection for High Earners: High-income earners may have more to lose financially in the event of a disability. Disability income protection can help safeguard their lifestyle and standard of living by replacing a significant portion of their income if they are unable to work.

Coverage for Various Disabilities: Disability income protection policies can cover a wide range of disabilities, including both injuries and illnesses, whether they're short-term or long-term. This coverage can extend beyond workplace-related injuries and illnesses to include disabilities that occur outside of work.

Tax-Free Benefits: Benefits received from disability income protection policies are typically tax-free if you paid the premiums with after-tax dollars. This means you won't have to pay income taxes on the benefits you receive, providing a more substantial financial cushion during your disability.

Peace of Mind: Knowing that you have disability income protection in place can provide peace of mind for you and your family. You can focus on your recovery without worrying about how you'll make ends meet or provide for your loved ones financially.

Helps Preserve Savings: Disability income protection can help preserve your savings and retirement funds by providing a source of income during a disability. Without this coverage, you may need to dip into savings or retirement accounts to cover expenses, potentially jeopardizing your long-term financial security.

Return-to-Work Support: Some disability income protection policies offer resources and support services to help you return to work after a disability. This may include vocational rehabilitation, job training, or assistance with job searches.

Overall, disability income protection provides essential financial protection in the event of a disabling injury or illness, allowing you to maintain your financial security and focus on your recovery without worrying about the financial consequences of a disability.

Coverage for small-business owners
We offer two types of disability income insurance policies to protect small-business owners and their companies.

• Business Overhead Expense (BOE) reimburses business owners for the expenses necessary to keep their company running upon the disability of any of the owners.

• Business Buy-Sell provides the funds to effect an orderly transfer of ownership in the event of a business co-owner’s disability.

This material provides general information that should not be construed as specific legal or tax advice nor the law of any particular state. Colorado Financial Advisors does not offer legal or tax advice. Clients should seek the advice of a qualified legal or tax professional for their specific situation. Guarantees are based on the claims-paying ability of the issuing insurance company.

Call us today to talk to a financial professional about your needs and see what we can do to help you.