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SFB021 Protect Your Income with Disability Insurance

| June 23, 2016
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Episode Summary

Sound Financial Group (SFG) is excited to welcome you to Sound Financial Bites, where we bring you bite-sized pieces of financial knowledge to help you design and build a good life. In today’s episode, Paul Adams, CEO and President of Sound Financial Group, chats with Ryan Jewell in the Brokerage Division for Sound Financial Group. He meets with other advisors in a myriad of different organizations and helps them understand how to protect their clients' incomes. Tune in to hear how individual disability insurance can help you design and build a good life.

What Was Covered

  • 05:20 - What are the three major misunderstandings behind acquiring disability insurance?
  • 07:16 - How to avoid the big mistakes to ensure your income is safe.
  • 11:13 - Why applying for disability insurance is a long process.
  • 11:42 - 90% of disability claims are due to sickness, not injury.
  • 12:21 - What is Income Earning Potential?
  • 14:25 - Financial devastation can come swiftly because most people are too busy to plan for their financial future.
  • 17:35 - Are you fully covered through work if you become sick or injured?
  • 20:23 - Do you already have disability insurance, but are not sure about your coverage? Contact Ryan.
  • 20:52 - What is the difference between Own and Any occupation?
  • 25:58 - Why you need to have both group and individual disability insurance.
  • 28:30 - How much does disability insurance cost?
  • 30:30 - Cancer is one of the biggest reasons a house gets foreclosed on.
  • 31:27 - How much disability insurance should you get?

Tweetables

"90% of disability claims are due to sickness."

"Financial devastation can come swiftly because most people are too busy to design and build a good life."

"Working professionals should layer individually owned disability on top of group coverage."

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