Long Term Disability

Starlight Financial is here to help you navigate long term disability plans.

Disability insurance can help protect your family from losing an income source if you are hurt or ill and cannot perform your work duties. At Starlight Financial, we want to help protect your family, so we will walk you through different types of disability insurance to help you choose the right product for your situation.

There are values to both short and long term disability coverages. Short term disability coverage pays a percentage of the employees’ salary, usually between 40% and 60%, if that employee becomes injured or sick and cannot work. Usually, short term disability coverage is offered by employers, but it can be purchased by the employee, as well. Long term disability begins when injuries or illnesses last longer than what short term disability accounts for. The insurance company usually has a team of doctors that determines whether a case is eligible for long term disability.

Disability coverage can also come with advanced riders, or optional add-ons, that can help out with other issues that arise when someone becomes disabled. Business Overhead Expense insurance can help small businesses stay afloat who generally rely on one or a few people to produce revenue. This type of insurance offers coverage based on the expected expenses of the business, rather than the anticipated profit. There are also policies which can pay back a business loan if you become disabled.

Additionally, if you have been given a total and permanent disability, it can relieve you from having to pay back many of your federal student loans. You must provide evidence of your disability to the Department of Education, which they will then review and decide if you are eligible for loan forgiveness. Some disability policies also include a headhunter search, so you can find jobs that you can complete even with your disability. Additional features are likely going to add costs to your premiums, so it is important to discuss all the options with an advisor before choosing a policy.

Starlight Financial can help you explore all of your options for disability coverage and decide which is right for you. Our professional advisors can help you ensure that you and your family are protected, no matter what. We currently have locations in Lexington, Pikeville, the Louisville/New Albany area, and Florence, KY, Phoenix, AZ, Linton, IN, Fredericksburg, VA, and Kingsport, TN. We are proud to serve the surrounding areas, and we will soon have a location in southern Illinois.

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Long Term Disability