What Is Disability Insurance | How Does Disability Insurance Work

EVERYTHING You Need To Know About Protecting Your Income is in this video! Your income is your most powerful asset - your most powerful wealth-building tool - so why wouldn't you put the same money, time & effort into growing it as you would into protecting it?
What is disability insurance?
🩺 Disability insurance (DI) is also called disability income insurance. If you become too sick or injured to work for an extended period of time, your short-term disability insurance and/or long-term disability insurance could provide you with 40 - 80% of income protection, including bonuses and commissions, if properly structured.
🎯 Disability insurance explained for Gen Z and Millennials covers disability insurance for physicians, disability insurance for dentists and disability insurance for self-employed individuals as well as small business owners and how own occupation vs. any occupation can mean the difference between a disability check or no disability check.
👉 We’ll go through the five questions to ask yourself to see if disability insurance should be a top financial priority for you & also help you answer the following :
✅ How much disability insurance do I need and how much will it cost me?
✅ How can I lower the cost of my disability insurance?
✅ What is the #1 tax reason for buying my own private disability insurance policy, even though I have company disability insurance
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[@DiamondNestEgg]

Thanks for visiting our personal finance channel! We hope this free content will help fast-track your financial journey! Please note that there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances. Everyone's financial journey is different. If you wish to set up a consultation call & discuss whether we can help you on an individual basis, please complete the Work With Us form on our website: www.diamondnestegg.com ***Contact us FOR YOUR PERSONALIZED DISABILITY INSURANCE QUOTE at [e-mail] 👉 POPULAR PLAYLISTS Life Insurance: kzbin.info/aero/PLsv_4H5rP97EiTHj1jmUf5wJn0uNbC8Gf Health Insurance: kzbin.info/aero/PLsv_4H5rP97G31qabRU8Ip5i5LpckLeVk Retirement: kzbin.info/aero/PLsv_4H5rP97Ezg5K3FXLsBS8Xz2JCGiAI Annuities: kzbin.info/aero/PLsv_4H5rP97FD58emP6HEQCX_dIBRTaEg Health Savings Accounts (HSA): kzbin.info/aero/PLsv_4H5rP97GCjXFBKBNSrFySsXv-mDrS Student Loans: kzbin.info/aero/PLsv_4H5rP97H4ZLmfeYfnpeGvgRhHOVlZ Investing: kzbin.info/aero/PLsv_4H5rP97HtL67HFjg5sFkvKz0sYxPj Credit Scores & Paying Off Debt: kzbin.info/aero/PLsv_4H5rP97FXfO4p_MvsHPxHGyR6HbES Best Credit Cards 2021: kzbin.info/aero/PLsv_4H5rP97GuQFQJQXplrxoI1oNzRol9 Budgeting for Beginners: kzbin.info/aero/PLsv_4H5rP97GiJsE9l3xk7XVSgN0UqpxS Emergency Funds & Saving Smarter: kzbin.info/aero/PLsv_4H5rP97HAQN6--XeMyXgKyXOfMuXW

[@kevinkennedy9343]

My wife and I are in the same business here in the Panhandle FL. I think you did an amazing job on this video on such an important topic! So many people are under-insured and not even aware they have a problem. Bravo!

[@holmeswatson5275]

Please discuss SSDI offset of disability insurance

[@branquinha80]

hi! I'm new to your channel and really enjoying the content. Could you talk about REITs investments? why would you or would not consider it? giving you ideas for content videos :)

[@StarLink-jc2mf]

I currently buy LTD insurance through my employer. I am given a choice between pre-tax and after-tax. I chose pre-tax but my co-workers chose after-tax. Are there any advantages over one or the other?

[@DiamondNestEgg]

If you choose after-tax & you do become disabled, you don't have to pay taxes on the LTD benefits you receive. If your premiums are paid with pre-tax dollars, you would need to pay taxes on your long-term disability benefits.

[@princessgucci1575]

I was just laid off from work, they offered me another position but that crashed me I was a chief accountant then they wanted me to become a Corp accountant can I apply for short term disability? Instead of Unemployment insurance? Btw I live in California

[@DiamondNestEgg]

Unless you are disabled (based on a doctor's diagnosis) and it meets the disability definition in your disability policy, you won't be able to apply for short-term disability. You'd have to apply for unemployment insurance.

[@chingleehwang8871]

If I am healthy and retired, what do I do with my disability insurance?

[@DiamondNestEgg]

I really can’t say without reading through the actual contract