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Disability Insurance
If you work for an employer that sends you a W-2 every year, chances are you have some kind of short term disability policy available to you through your state’s government. However, short-term disability is meant to cover you for a short period of time while you recover from an acute injury, usually 3 – 6 months.
If you are lucky, your employer may offer a long-term disability policy. This type of policy is intended to start once your short-term policy runs out, and covers you for an extended period of time – which can be anywhere from 5 years to full retirement age. However, a lot of the time an employer policy will only cover a percentage of your pay, as to incentivize you to come back to work and earn your full pay.

But what happens if you cannot return to work, or if your policy does not last until your retirement age? You may be thinking you can rely on the Social Security Disability system, but this may not replace your entire income – or worse, your condition may not meet the Social Security administration’s strict definition of disability. If you have people in your life who have applied for disability, they can likely tell you how much of a headache and uphill battle this can be; one full of a lot of unknowns, and not many guarantees (and often expensive legal fees to boot).
By purchasing your own individual policy, you can be more prepared for an unfortunate event which could force your income to halt permanently. If you are the main source of income for your family, this is especially important to consider. Hollander Investments & Insurance Services, LLC can help you cut through the confusion and tailor a policy that is right for your needs.
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