Most insurance people buy protects them if something happens to an asset they own. For example you have car insurance and home owners insurance. People also own life insurance if they are invested wisely so their loved ones will be taken care of in case something tragic happens. However, what would happen if you were disabled for three months and not able to work? Would you be able to make your house payment or car payments? Most people think that this will never happen to them, but in reality the average person is likely to suffer from a long-term illness by the age of 65 that will leave him/her disabled and unable to go to work to earn a living.
Disability Insurance answers the question of ‘what do you do?’ At Kollmorgen and Associates we will sit down with our clients and examine their needs. Maybe our clients can self fund themselves in case they miss three months of work. If so, that is great if their needs are met. However, the same client might need long term disability insurance that helps them if they are out of work much longer. Every person and their situation is unique and we take the time to identify those unique situations. Give us a call and we’ll love to discuss yours.