New York: Ithaca, NY
New Jersey: Flanders, NJ

Disability Insurance

Your ability to earn an income is your No. 1 asset. So why are you more likely to insure other less valuable assets, like your car and home, than your income? It's easy to underestimate the chances of becoming disabled. Most people believe it could never happen to them. They are surprised to learn that the chances of becoming disabled for more than 90 days are 1 in 4. Being disabled usually means losing your income, because you're no longer able to work. But that's where disability income insurance can help.

What Constitutes a Disability?

In its simplest form, a disability is the inability to perform your job due to a sickness or injury. Some disabilities, like a normal pregnancy or a sprained ankle, are for such a short time period that it is more expensive to insure them than to lose the income. Other, longer-term disabilities, like a heart attack or becoming paralyzed, may keep you from working for months, years or even the rest of your life. A long-term disability can have a huge impact on your financial situation because your income would drop or disappear while your expenses continue or even increase. The risk of long-term disability is well worth insuring.

Why You Should Consider Your Own Coverage

  • Save on Taxes - When you buy your own insurance with after-tax income, 100% of the benefits are income tax free.
  • Cover Your Actual Earnings - Cover a higher percentage of your income with insurance that covers bonus and/or commission income.
  • Choose the Disability Definition - Many employer-sponsored disability insurance programs use a restrictive definition of disability. Your policy can be much less restrictive (and therefore, likely to provide benefits when you need them).
  • It Stays With You - When you change jobs, you won't have to worry if there is a gap before you are eligible for benefits at the new employer.
Contact us today to learn more about Disability Insurance.

This website is for informational purposes only and not an offer to buy or sell securities.
Angela O'Neill is licensed in New York, Florida, Georgia and Maryland.

New Horizon Financial Strategies ("NHFS") is a registered investment adviser offering advisory services in the State of New York and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by NHFS in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.

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