What You NEED To Know When It Comes To Disability Insurance | Group Plan Vs. Personal Plan | How Do Insurance Riders Work?
Control and Compound with Darren Mitchell · Control and Compound Financial | BNV Media
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Show Notes
On this week's episode, Darren and Christina breakdown disability insurance and why it's so important to not overlook this type of insurance. Everyone has insurance on their house, their car, their boat etc. but a lot of people don't insure their most important asset, yourself and your earning potential.
Prior to age 65, you have a 1 in 3 chance that you'll be disabled for at least 90 days. It's incredibly important to get the proper disability insurance for your income.
Darren and Christina go through the different products available on the market, group plans vs. personal plans, plans available depending on employer, and the steps you need to take to make sure you have the best disability insurance available to you given your personal situation.
Show notes:
00:00 - Introduction
1:15 - Importance of Disability Insurance
3:25 - Breakdown of Group Disability Plan
10:00 - Breakdown of Personal Disability Plan
12:00 - Group Vs. Personal
17:07 - Breakdown of Insurance Riders
22:05 - How are these plans taxed?
23:00 - How much do these plans cost?
26:50 - What you should be doing with your disability insurance
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