Protecting Your Biggest and Greatest Asset: Understanding Long Term Disability Insurance - E6

Michael Acosta and Brady Hemmerle discuss the critical importance of long-term disability income protection insurance. They break down what it is, why you need it, and how it can safeguard your financial future when unexpected events occur. Emphasizing the importance of protecting your ability to earn a living, the episode explores various aspects of long-term disability insurance, including group coverage limitations, personal policies, and key features like partial disability benefits, cost of living adjustments, and future increase options. Michael and Brady also guide listeners on where to get personal policies and how to design them effectively to ensure optimal financial protection.

Key Takeaways:

• What’re some of the common misconceptions regarding long term disability?

• How will you know which long term disability policy fits your needs?

• An example of how long term disability can actually save you millions of dollars

Key Timestamps:

(00:00) - The Importance of Protecting Your Income

01:14 Understanding Long Term Disability Insurance

03:44 Common Misconceptions and Realities

05:37 Where to Get Coverage and How Much You Need

09:32 Designing Your Disability Insurance Policy

24:47 Additional Features and Customization

29:06 Case Study Example

Key Topics Discussed:

Financial Fortitude, Genesis Wealth Planning, Brady Hemmerle, Michael Acosta, financial wellness, wealth building, financial psychology, financial advisor, finance therapist, student loan debt, finance guidance for high earners, business owner finances

Mentions:

Website: https://www.genesiswealthplanning.com/

Michael’s LinkedIn: https://www.linkedin.com/in/michaelracosta/

Brady’s LinkedIn: https://www.linkedin.com/in/brady-hemmerle-cfp%C2%AE-75043013a/

Financial Health Checkup: https://www.livingbalancesheet.com/lbsVision/lite/michaelracosta

This podcast is for informational purposes only and is not to be construed as tax, legal, or investment advice. Although the information has been gathered from sources believed to be reliable, please note that individual situations can vary. Therefore, the information should be relied upon only when coordinated with individual professional advice.  Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or (INSERT DBA or AGENCY NAME) and opinions stated are their own.  Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. All investments and investment strategies contain risk and may lose value. 

 

Michael Acosta is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 6115 PARK SOUTH DRIVE, SUITE 200, CHARLOTTE NC, 28210, 704-5528507. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. (INSERT DBA or AGENCY NAME) is not an affiliate or subsidiary of PAS or Guardian. CA Insurance License # 0M50974. 7012070.1 Exp. 10-26