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Supplemental Long Term Disability
Posted on 10/30/17 at 2:33 pm
Posted on 10/30/17 at 2:33 pm
I met with a Financial Planner at NW Mutual a few weeks ago. He is recommending my wife and I both get a supplemental long term disability policy on top of our work policies which both cover 65% of our pay.
His recommendation is for me to get a $2100/month policy with a premium of $25/month and my wife to get $2500/month policy for $50/month.
Background:
Combined income of about $165,000, 2 kids in daycare, mortgage, 1 car note.
Is this something we should consider?
His recommendation is for me to get a $2100/month policy with a premium of $25/month and my wife to get $2500/month policy for $50/month.
Background:
Combined income of about $165,000, 2 kids in daycare, mortgage, 1 car note.
Is this something we should consider?
3
Posted on 10/30/17 at 3:11 pm to ELLESYU2
Been a long time since I've priced disability policies, but those look like very affordable policies. Are they in-house with the FA?
Posted on 10/30/17 at 3:21 pm to Bill Parker?
I'm not sure what that means.
Posted on 10/30/17 at 3:24 pm to ELLESYU2
I’m very much looking forward to this thread. It’s a blind spot in my financial planning so this will be extremely helpful.
Also, I need to create a will.
Also, I need to create a will.
Posted on 10/30/17 at 3:25 pm to Bill Parker?
Agreed, most LTD policies I’ve seen cost a lot more than that. That would be a no brainer to pick up.
Posted on 10/30/17 at 4:15 pm to ELLESYU2
What are the elimination period and benefit period of the policies quoted? Are they both true own occupation definition of disability?
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