Understanding Disability Insurance: Protecting Your Most Valuable Asset (Ep. 40)

What happens if your paycheck suddenly stops, not because you lost your job, but because you can't work? 

Most people never consider this possibility until it's too late.

In this episode, Nick Russell and Becky Wagoner tackle one of the most overlooked aspects of financial planning: disability insurance. They explain what disability insurance actually is, who needs it, and why protecting your income is just as important as protecting your life. 

Nick shares his personal experience filing a disability claim early in his career, breaking down the differences between short-term and long-term coverage, employer-sponsored plans versus individual policies, and the critical distinction between "any occupation" and "own occupation" coverage.

Nick and Becky discuss:

• The fundamental difference between short-term and long-term disability insurance, and when each applies
• Why "any occupation" coverage may leave professionals vulnerable despite lower premiums
• How employer-sponsored group plans compare to individual policies in cost and coverage
• The reality of Social Security disability benefits and why they shouldn't be your only safety net
• Common misconceptions about disability insurance, including AD&D and cancer policies
• And More!

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