Long Term Disability Insurance Farmington NM

My advice to most people is that long term disability in Farmington is the most critical coverage to maintain during your working years. Statistics show that 70% of people will face a disability of three months or more before the age of 65. Since most of us live by our paychecks, disability is really paycheck insurance. A policy can commence typically after a 90 or 180 day waiting period once the disability has started.

Max Leach (RFC®), CLU, RFP
(505) 344-2255
10308 Candelaria NE #345
Albuquerque, NM
Qualifications
Education: BS
Years of Experience: 16
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Executive Compensation Planning, Retirement Planning, Tax Planning, Seminars Work, Employee Benefits, Family Offices, Stocks and Bonds, Mutual Funds, Mortgage Loans, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Auto Home Insurance, Charitable Planning, BuySell, LiabCover, Compensation Plans

Data Provided by:
Mr. Gerard W. De Long (RFC®), CSA
(505) 521-4434
1801 Pinehurst
Las Cruces, NM
Company
Las Cruces Investment Center
Qualifications
Education: BS - Aerospace Engineering, MS - Aerospace Engineering
Years of Experience: 38
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Pension Planning, Executive Compensation Planning, Retirement Planning, Seminars Work, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, Education Plan, Healthcare Accounts, Asset Protection, BuySell, Compensation Plans

Data Provided by:
Southland Life Insurance
(505) 255-5547
428 Louisiana Blvd SE
Albuquerque, NM
 
HBW Insurance & Financial Services, Inc.
(505) 440-0317
3701 San Mateo Blvd. NE
Albuquerque, NM
Alternate Phone Number
8084305689
Services
Financial Services

All-Star Insurance
(505) 294-9414
2625 Pennsylvania NE, Suite 710
Albuquerque, NM
 
Mrs. Natalie Voskresensky (RFC®), MBA
(505) 858-2443
2 Juniper Hill Rd NE
Albuquerque, NM
Company
PLAN RIGHT, LLC
Qualifications
Education: MBA, Accounting Concentration
Years of Experience: 13
Membership
IARFC
Services
Invoice, Business Planning, personal Coach, Retirement Planning, Tax Returns, Employee Benefits, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Group Insurance, Auto Home Insurance, Asset Protection, LiabCover

Data Provided by:
Ron Siemon
8300 Carmel Ave NE
Albuquerque, NM
Company
Title: Investment Consultant
Company: LPL Financial
Type
Investment Advisor Rep: Yes
Service
Income for Life/ Preserve Principal,Life Insurance,Long-Term Health Care Planning,Retirement Income Accumulation Planning,IRA, 401k, Roth IRA, QDRO Rollovers,Wealth Management,Investment & Portfolio Management,Annuity Ideas & Strategy Planning,401k Rollover From Employer,CD Alternative,Annuities,Investment Consulting & Allocation Design,Asset Protection Strategies & Planning

Data Provided by:
Franklin Insurance Agency
(505) 796-6296
7930 Wyoming NE
Albuquerque, NM
 
Farmers Insurance
(505) 892-4313
2105 Golf Course Rd SE Suite A
Albuquerque, NM
 
Ron Pino Agency
(505) 877-1391
3211 Coors Blvd SW Ste 12
Albuquerque, NM
 
Data Provided by:

Smart Insurance Plans

Q: What sort of insurance is best for a single person? I hear continually about life insurance to take care of your family, but what if you don't have a family?

My advice to most people is that long term disability is the most critical coverage to maintain during your working years. Statistics show that 70% of people will face a disability of three months or more before the age of 65. Since most of us live by our paychecks, disability is really paycheck insurance. A policy can commence typically after a 90 or 180 day waiting period once the disability has started. These choices, along with other policy design features, are selected by the insured at the time of application with assistance from a professional advisor. Although this coverage is not inexpensive, it is valuable to have and can easily pay for itself with a single incident. Assuming the policy is paid with after tax dollars, the benefits the policy provides are also tax free. Finally, one can usually insure about 60% to 70% of one's annual reportable income. Most policies require financial documentation to prove earnings, along with an application and medical exam.

The other important coverage that you should consider depending on your age is long term care. Long term care will provide reimbursement for nursing home, assisted living or professional home care expenses. Many of my clients who have seen these expenses within their own family understand the valuable protection a long term care policy provides, as many of these institutions charge multiple thousands of dollars a month. As a reminder, health insurance does not pay for these services and most government plans will only pay for people who are basically destitute. In many instances there is no medical examination associated with the application when acquiring long term care coverage.

As for your question regarding life insurance, I think if the person has any debt at all, a life policy might make some sense even if you don’t have a family. It would also cover all final expenses including a funeral and burial. In the event of your passing, would you want your estate to have any debt or estate taxes due? Term insurance is a very inexpensive life insurance alternative, but the negative is that it will typically not cover you for more than thirty years. There are a variety of life insurance products to choose from depending on your budget and objectives. Most policies require an application, medical exam and phone interview.

I hope this helps!

 

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