Long-term disability insurance likely isn’t something you ever want to be in a position to need, but if ever you do need it, you’ll be grateful it’s there. Like short term-disability insurance, it provides financial assistance to an employee who is unable to work because of an accident, injury or illness. True to its name, long-term disability (LTD) payments cover a long period of time—as much as several years.
If you are dependent upon your ability to work to pay your living expenses, then long-term disability insurance is a financial necessity. It’s important to have someone who is knowledgeable about long-term disability insurance to review your program to ensure there isn’t any flaws or short comings.
Look for a Financial Advisor who has obtained their Certified Health Specialist (CHS) designation. The CHS designation indicates that the advisor is knowledgeable in the area of Living Benefits (disability, critical illness and long-term care insurance).