May is Disability Insurance Awareness Month: What You Need to Know - Expert Edition Episode 22
Disability Insurance Awareness Month, takes place every May. Disability insurance is a type of insurance that provides financial protection in the event of an unexpected disability that prevents you from working. In this episode, we'll explore why disability insurance is important, how it works, and why it's important to have coverage. We'll also look at some common misconceptions about disability insurance and discuss how to determine the right policy for your individual needs. Whether you're a business owner or an individual, disability insurance is an important consideration, so tune in to learn more about how you can protect your financial future.
About our expert:
Acquania is a financial coach, freelance writer, and independent life insurance producer with LifeTyme Financial Group, LLC. She is committed to helping people find financial freedom and build wealth. As a financial coach, she equips her clients with "outside the box" finance tips, debt payment plans, retirement planning, and more. With her advice clients are able to meet and exceed their financial and personal goals.
Her coaching is individually tailored to address all financial situations. Also, through her finance blog and podcast, The Purpose of Money, she shows women how to invest and save more so they can live a more fulfilling and prosperous life.
Acquania's passion for personal finance and investing began when she was in high school and her father gave her a copy of Rich Dad, Poor Dad by Robert Kiyosaki. At 16 years old, Acquania opened a Roth Individual Retirement Account and has been seeking financial independence and early retirement (FIRE) ever since.
Schedule a Free Consultation with Acquania
---
Please join me here, and follow me on social media, Instagram, and Facebook.
Need help getting started on your path to financial freedom? Start Here
Join the Financially Intentional Community
Oh and please subscribe and leave a review on whatever app you're using to stream this podcast.
Get my book Smart Money
Subscribe & Review
Love this episode? Please subscribe and leave a review on your favorite podcast platform.
TRANSCRIPT:
Naseema: [00:00:00] Welcome back, my Financially Intentional People. We are joined again with our expert AIA Escar. What's up, aia?
Acquania: Hey Naima. How are you? I'm
Naseema: doing good. In the throws of my maternity leave, sitting here in nesting really heavy. So if it seems like I've been MIA because I have cause. My brain does not work around really.
Personal finance content is really heavy into getting ready for baby, which I should film a lot of it cuz there's a lot of stuff that I have done to get ready. But one of the things that we want to share is this month Disability insurance awareness a month. And we have talked about disability insurance on this show, but it's so important that we wanted to re highlight it on this episode.
And also to share with you my experience with disability. So in the state of California where I work we have state funded disability for [00:01:00] pregnancy or maternity, and it usually is standard four weeks before you deliver. So four weeks before your due date, and then six weeks after you deliver, if you have a vaginal delivery in eight weeks after you delivery, if you have a C-section.
Now, if you have. Some other kind of medical condition that compounds that you can go out early, but it does take just getting a medical certification. So for, in my instance, What happened is I have some work restrictions that because of my pregnancy that my job was no longer able to accommodate.
So I've been out since April 1st on my maternity leave. And at first I was sad about it, but it has been lovely. But in the context of disability like insurance, like I have state provided disability insurance, but I also have a disability insurance [00:02:00] policy that will kick in after 90 days as well.
We're, we can flush that out later. But Aia, let's talk about the importance of disability insurance and why this is so special and why they decided to highlight the month highlighted in the month of May, and
all
Acquania: those good things. Okay, so for those who don't know me, I'm Acquania Escarne, the creator of The Purpose of Money, which is a platform that teaches you how to build wealth through life insurance and real estate investing.
I am a licensed life insurance producer and I'm licensed in multiple states, so I more than likely can help you wherever you are. And I love to talk about life insurance and disability insurance because they are not talked about enough. And especially in communities of color. As a life insurance producer, one of the things that I've had to really educate people about is what is disability insurance?
Because so many people actually don't have it, don't think they need it, or [00:03:00] they think, oh, I'm covered under my job, so I really don't need to get a policy outside of work. But as with most benefits, you should never rely a hundred percent on your job to provide you anything because they may have limitations that restrict your ability to access the benefit.
So even if you do have something with your job or you live in the great state of California like Nasima and you have state options, you still should consider your own policy. Now with that said, this is disability insurance awareness month because so many people need disability insurance and don't have it.
The simplest way to think about disability is the insurance that pays you when you're unable to work, right? So you. Will file for disability if you are sick or injured and unable to perform your job. In your case, you left your job early due to your pregnancy and inability to do your job in its full capacity, right?
And your insurance kicked in to [00:04:00] help cover the gap. The problem is it doesn't cover a hundred percent of your salary because, If people got paid a hundred percent of their salary to not work, they would never go back to work. So disability is meant to help you, but your emergency fund is what's really supposed to kick in the difference.
And most disability policies will only pay you up to 60% of your income. It's very rare. It goes beyond that. And then your emergency fund is where you're gonna get that 40% to make. Your family whole. But the reason this matters is because a lot of people do not realize that they are potentially at risk of being disabled at some point in their working career.
Statistics show that. Within a group of 20 year olds, one out of four will suffer from some type of disability before retirement. So you work a 30 year career, you look at three other of your peers, one of you will be out on [00:05:00] disability. In the time of your career between 20 years old and 65. So it is more than likely that you're going to suffer from an inability to work, which means an inability to make money.
And the sad part is in the United States, a lot of families end up filing bankruptcy, not due to consumer debt, but due to. Medical debt because now you have this health issue that you're unable to work because of it, but you're also dealing with medical issues at the same time. And now we have more money potentially going out than we have coming in.
So that's another reason why you wanna have disability insurance because it will cover you and your finances when you're unable to work. And most people. They assume that it's a accident that will result in them not being able to work, but it really, the number one reason people end up going out on disability are health issues.
So we can talk about that and how you can [00:06:00] prevent as much as possible going out on disability. But it all starts with how you treat yourself and your body.
Naseema: Yeah. But it also can depend on you can have something that's even.
Acquania: As
Naseema: minor as a strain and you have to wear a brace. And like for places like me, I work in healthcare, you can't come to work with a brace on.
So like even something as minor as that, if your workplace can't provide an accommodation, you can potentially be out.
Acquania: Yeah. Absolutely. And then most common reason that people are out is heart attacks, strokes, cancer diagnosis. And that's, some of that is very directly related to your lifestyle, your health, even maybe lack of exercise or could be genetic in some cases.
But it is still important to have the insurance in the event there is an accident. Yes, it's possible. You slip, you fall, you have a car accident, it leads to residual injury or pain to your body, which might [00:07:00] impact your ability to work as well. But it's really health and whether or not you're taking care of yourself.
And the more you exercise, don't smoke. Get regular checkups so you know what's going on with your body and really do the natural cancer screenings at the right ages earlier. If your family has a history of risk and then making sure you're watching your weight, you're not excessively drinking and keeping in mind your health, your body, and your.
Mindset, right? Because even mental health can be covered on a disability insurance. So that's why it's so important to do self-care. Get the therapy that you need when you need it, so you don't suffer from a breakdown, and now you can't work because you are overwhelmed with your life. And
Naseema: there are a lot of healthcare organizations through your insurance or through your employee assistance programs that will actually incentivize you to be more healthy.
Like they'll have [00:08:00] discounts for gym memberships. Or, provide free counseling services. So this is a time to actually check in with your benefits as well and see if that's something that's provided. So you are being more proactive and preventative. Some of them will even Give you like Apple watches and they'll give you all kind of devices, even sometimes pay you to do your preventative health visits.
So those are things to check in on and see if those are offered through your plan or through your insurance carrier. I've had it. Through both, either my employer directly through
Acquania: like a eap, employee assistance program
Naseema: or through my
Acquania: Through my health insurance. Yes, definitely check into that.
My husband's job, yes, they used to give them gift cards to go buy Apple watches. His first two Apple watches were gifts from his job. They also have the incentive to get you into the gym, so they will give you the discounted rate or cover your membership completely. And then I actually [00:09:00] use my health savings account, which is separate, but if available, if you're on a high deductible.
Health insurance plan, you do qualify to contribute to a health savings account. And one of the authorized expenses when you have an HSA is massages. So I get my massages through my, and I have my HSA pay for it by submitting my receipts every time I go get a massage. And that can apply to massage spaces who have memberships, for example, massage Envy, hand and Sew, any locations.
Where they're charging you monthly, you might as well go get that monthly massage and then submit that receipt for reimbursement. But those are just some of the ways to keep you healthy. And I feel like when we are on track from a health perspective, we're less likely to get sick, which means we can be healthy and continue to work.
But things happen, life happens. And when it does, it's really nice to have an insurance in place that's gonna help you make ends meet.
Naseema: And I also [00:10:00] wanted to mention that is also a benefit of a FSA as well. I know that my FSA will pay for some of those services as well, so you mm-hmm. that you would definitely wanna check that out.
Yes.
Acquania: Flexible spending spend accounts, so for those who don't know, yeah. Hsa, health Savings Accounts, fsa, flexible spending account. Very similar benefits. I think some of the major differences is whether or not that all of the money rose over and how, yeah. So at a health savings account, a lot of times you can keep a balance of money in there and your job might even contribute to that money so that you have free money that goes to health costs.
Whereas a flexible spending account you do put money in there every paycheck, but then I think it's every March or right before tax season, you have to get that balance down to 500 or less. Otherwise you lose some of your money. Yes. So you just, it used to
Naseema: be like at the end of the year you just.
You just lose it. And then they made it so that they carried over the balance until like tax [00:11:00] season. But it is becoming yeah, if you get it under $500, it'll keep on rolling. Yes. But you still have to use that money. It's use it or lose it. And also in the ef in a hsa, you're able to invest extra funds too.
So that's the little bit of difference in that. And to have an hsa, you do have to have
Acquania: a high deductible, high
Naseema: deductible. Healthcare plan. Yeah. To qualify. Yeah, I don't have that option. So I have a F S A, which I'm glad I matched out this year because I am using those benefits
Acquania: all the way down.
Yes. And these plans are great. Great tax benefits. I know we're talking about disability today, but I just wanna emphasize that these are great tax benefits because money put into these accounts is taken outta your paycheck before taxes. So you're getting to put money away, tax free for future health expenses that you are probably gonna incur anyway.
You're gonna have your kid checkups, you're gonna have your annual [00:12:00] checkups, you might do lab testing results. Either way it goes, this is money you're gonna spend. Why not spend it as tax-free dollars? And then when you incur these expenses, at least the way mine is set up, once that insurance claim is processed, I am automatically reimbursed sometimes before the bill from the doctor even comes.
In some cases, I am getting the money to pay the doctor bill prior to the bill's arrival. In other cases, I pay the bill up upfront and then I get reimbursed. But when you get reimbursed, it is still tax free. So it is the trifecta of the best. Tax situation you could ever ask for. And it's not limited to income or other situations, it's totally based on eligible health expenses.
And in covid, they even expanded the list. So now it covers, sunscreen, tampons, personal, items so you can baby items too. Yes, baby items believe so. You can literally, yes. [00:13:00] Buy things that you, you know, you're going to use on a monthly basis and get reimbursed for it. So honestly, whoever's not getting these benefits really needs to check in asap.
And make sure that if it's eligible, you are getting it because there's no excuses. Yes. And it could be a quite a bit of change. Sometimes it might change your tax bracket depending on where you are. Changing, taking this money and deducting it, before taxes are applied. So definitely take advantage.
But yes, I love 'em. I love them.
Naseema: Yes. I love to miss law. I definit want you take advantage of them, especially right now. But let's talk about like disability insurance cuz we know we're not gonna depend on the state. Or our employer to provide it is something that we wanna make sure that we're covering too.
And I just want you to do a quick overview of the difference between. Short-term disability and long-term
Acquania: disability. So that's a great question and long it's, I hate to say it's like in the name, but it is true. Short-term [00:14:00] disability lasts for a limited amount of time, and it could normally be like 90 days or less.
And then 91 days or more is what we normally refer to as long-term disability because it kicks in on a 91st day and pretty much will take over the payments that you were receiving and sometimes even give you more payments than you were receiving under short-term disability. And so the limitation is the time, how long one pays you versus the other, and the fact that one cuts off and the other one will kick in.
I recommend that if you have adequate savings and you do invest in a long-term disability policy, 91 days or 90 days wait time is what they call it, or higher. It is better for your budget. You will get the best rates when you're willing to wait three to even six months in some cases before your checks kick in, and then you will also.
Have the option to add on other benefits if you want to make your policy [00:15:00] really fancy. But the longer you wait, which is called the elimination period for your disability policy to pay you, the cheaper it's going to be for you. And so if you have health issues and you need to also save money, that is one way to do it.
But I don't recommend. Going beyond 180 days because most people think that they'll have the funds to last that long so they can bridge the gap, but they really don't. So I would say 90 days, 180 days max, use that as your elimination period on your policy. But just know that once you choose that elimination period, you will wait that long before your policy kicks in and starts to pay you.
But disability is important. Because depending on your contract, it will kick in even if you have a reduction in your pay. So you don't have to always fully stop working sometimes. Cuz one of the companies that I work with, They actually have a rider where you get paid to take care of another family member, [00:16:00] including aging parents, sick children, or even a sick spouse.
So as long as you have reduced hours from full-time, you qualify for a partial benefit. So it is possible for you to get paid disability insurance and not fully stop working. Does that make sense? It makes a lot of sense.
Oh, you know what else I wanted to tell you? So one other thing to keep in mind is when you're negotiating your disability policy contract, you also can negotiate when it ends, and so you can negotiate it end at 65, 67. Most people don't go past 67 because social security can kick in at that point.
But that is also another way to save money on your policy. Now, obviously also, it's not like a lifetime
Naseema: policy
Acquania: then, so it's just No, no. It covers you into retirement and then retirement. Ideally, social security and or your retirement savings will kick in because now you're eligible to tap into it and so, oh, [00:17:00] that's smart. Your, Your end date matters though, because if you anticipate working longer, you want to be covered longer. You should get the 67 age limit when you're young and healthy, right? It's gonna be a cheaper cost for you, but it'll cover you for a more, a longer period of your career. And then God forbid something happens.
Let's say you actually encourage disability at. 50 and you're never able to go back to work again. You will get paid out from 50 to 67 instead of 50 to 65. And if you're our generation where social security doesn't kick in until 67, now you have something to help you bridge until Social Security kicks in.
Nice.
Naseema: That's awesome. That's good to know. I never knew that.
Acquania: Yeah, so it's, I keep telling people insurance, life insurance, disability insurance, even car insurance, they are contracts, right? So you negotiate the terms according to what's best for you, and there [00:18:00] is room for negotiation, especially with benefits.
And obviously the more benefits you want, the more it'll cost. To you, but there are some things worth paying for. So I always say, wait 90 days or more to kick in the policies, benefits. That'll save you some coins on the front end, but pay for the 67 so you're covered for a longer period of your life.
If you anticipate that you're going to work a longer period, and in that way you know you're covered, you have money coming in, and God forbid something happens, you don't have to figure it out from 65 to 67. Yes. I love
Naseema: that. I love that. So if somebody is just new and like trying to get disability insurance, like how should they look at estimating how much they actually need?
Say somebody is fresh, they don't have an emergency fund, they're just now getting their finance together, finances together, and they just want to get started with a disability policy. [00:19:00] Like how should they like. Like what
things
Acquania: should they be thinking about, think about? That's a good question.
So first I would talk to a life insurance producer who is licensed to sell health and life insurance, and they can help you start the quote process. But in general, you wanna be able to cover your essential bills. In the event of a disability. So what is your bare bones budget for your lifestyle?
You wanna have your mortgage covered, maybe you have existing car or student loans. Those are all things you wanna account for. Now, there are some cases where companies will allow you to waive your student loan payments. Or even your life insurance payments in the event of a disability. But you need to read the fine print of those contracts because sometimes if it's a short-term disability, for example, they may not let you waive it, but if you do incur a long-term disability that impacts you for multiple years, then you might get out of those payments.
So I always plan as though you're going to have to pay all your bills. [00:20:00] And if you are able to get out of some of them, then that just means more disability income for your household to go somewhere else. So think about what are my essential costs? That's food, housing clothing for your kids, and anything else that is required to keep the lights on and to keep the house moving, but maybe.
You don't put that clothing for luxury shopping into the budget because that you would cut back in a disability, right? But you wanna do the essentials, because remember I said disability insurance only covers 60% of your pre-injury or pre sickness income, so you're not going to be able to get a hundred percent of what you used to make.
And in that case, We wanna make sure that hopefully you are living within the idea of 40% of my expenses are essential. My housing fits under there, my food fits under there, and maybe there's a little bit of room for wiggle slash emergency. That's where you need to start. If [00:21:00] you are not able to fit your essentials into 60% of your Figure or your monthly assets or income, then we need to probably look at your overall budget and make some adjustments because that is the more comfortable and reasonable way to live understanding that things happen.
Housing in California is more than in Georgia, and so maybe you paying more for housing, but you're gonna have to find somewhere else to cut. Otherwise, your disability income is just not gonna cut it for you, even if you have a policy.
Naseema: Yeah, I think that's important. And a great place to start for most people is to really go over your budget.
Now I know I had to like really just stop and look at my budget, and that's as me somebody who actually looks at my budget on a daily basis, but now I'm like, I really just wanna get my expenses down to where. I know like about how much like state disability would be, right? I wanna [00:22:00] get my expenses down that low to know that I don't have to do anything else to cover it, no other additional income.
And so I drastically went through line by line everything that I. Pay for and cut things like crazy. And, it was a, it is just a time like to do a real reset on what's really important and what's not. Because I really feel like, especially, when there's boom times and you're making a lot of money, your budget can really inflate and then those things can.
Be reoccurring expenses that you just start to lose track of, but like really looking through your budget and understanding what is essential and what is not, and what it really takes to live versus what you just got used to living off of. Is a super important like checkpoint and I think people should really start there.
And I think even if you're not even looking at this from a perspective of getting disability [00:23:00] insurance, but just as a checkpoint and let me go back and reflect and go through my budget and see if these are things that I actually still need. And then that money can go to other financial goals.
But for the purpose of this episode, like you really should be investing in a disability insurance policy. It's a real, it's a really good time to just stop and then touch bases with your finances and see like where you're at right now. So if you haven't done that, this is Yes. A action step for you to
Acquania: take immediately.
Absolutely. And I would also say, don't forget that when you have a disability policy, a lot of them will have built in increases in the benefit based on the increases and cost of living if you signed up for that. Riders. So riders are the additional benefits that you can ask for at the beginning, and they're putting your contract and there are policies where you can ask for a.
Embedded naturally happen 3%, six to 6% [00:24:00] increase due to cost of living. So what that means is not only are they going to review your income every potentially five, three to five years to see if you need to increase your benefit, they will also in the event of a disability, Reevaluate the cost of living after 12 months and increase the benefit in disability so that if goods have gone up, you can still buy what you need to buy because your benefit is gonna go up too, but you pay for that rider.
It's not an automatic thing, and some people don't know that. So definitely if you have an opportunity to show an increase in your income, which means you're gonna need more money. Show it when you can. If you have the option to pay for the riders where your benefit increases, when cost of living increases, pay for that rider, it's totally worth it and it will help you in the long run.
That way if you're getting a thousand dollars a month and now everything costs 1200 a [00:25:00] month. You'll see that your disability payment will go up as well to maybe 1300 a month, so you have enough money to cover your bills. So that's just another cheat sheet for you guys if you are going to get disability insurance.
Naseema: So I have a question like in general about Making changes to your disability policy outside of a rider. So like for example, when I first got my disability policy, it was based off of me living in a lower cost of living state, and then I moved back to California where my living expenses doubled.
How often do you actually recommend going back in and making adjustments to make sure that you're. Expenses. Now your true expenses are covered. And if you do make those changes, is everything reevaluated based off of your, do you have to do another health exam or physical or is it based off of when you first signed up
for
Acquania: your policy?
That's a great question. So it depends on your contract, but in most cases, [00:26:00] if you need to significantly increase your benefit because you have significantly increased your income. That is a prime opportunity to get another policy. You don't have to get rid of the one you had. You just need to get one to cover the gap.
Because now you make more money. That's very smart. Yeah, and that new policy may require that you have an exam or a questionnaire and not necessarily both. Sometimes they will use your medical records in history to make a decision. Other times they will want you to do blood in urine analysis. In order to determine your actual health levels.
So it depends on the contract. It depends on the company, but it never hurts to just inquire. You can always get quotes and not go through with an application, but a lot of times when there's a significant jump, that's a new policy. But if it's a small percentage increase or you are up for that three year review, then you would just use your existing policy and provide the proof of income.
Now, I wanna [00:27:00] be very clear. Most companies, if you're asking for a large monthly benefit, they are going to ask for the proof in the pudding boo. They want pay stubs, sometimes W two s to prove that you earned the income you say you earned. And if you said you earned a hundred thousand dollars a year, But then you have a pay stub or tax records that show 50,000 a year.
The math ain't math, and they're not gonna pay you off of a hundred K salary if you didn't make a hundred K salary. So I also want you to know it's not about how you wanna live, right? In the event of disability, it's about. What you actually need to make ends meet. So when you apply, if you are a high figure breadwinner for your family, you're going to base your 60% off that higher salary.
And if you are a lower income earn at the time, your 60% will be lower, obviously. But that's what I mean. If you're gonna double or triple your salary, that's a great time to consider getting another policy to [00:28:00] bridge the gap. I love that. I love that. Yeah. People don't know that and they be like, oh what you mean?
You want my real tax? Yes. Your real tax returns. Your real pay stub. Yes. You have to provide proof. Proof, yes. Yes. One thing I do wanna say though, that you might not know is, Even as a full-time entrepreneur, you can qualify for disability insurance. You just may need to provide a little bit more documentation to support the claim and the application.
They do like to see that you've been in business for a couple of years to know that you are successfully operating as a business owner, but you can also. If you're freelancing, like I've had some clients who have a nine to five and they have a business, and in that year before they transition from their nine to five, they lock down that disability policy, right?
They have the W2 income and the side hustle income to justify a larger benefit, but then they. Transition into full-time entrepreneurship at some point, and as [00:29:00] long as they're doing similar duties or work, it makes sense. Also, keep in mind, disability is based on your occupation and some occupations get discounts.
So if you are sitting at a desk every day and making content, you may tend to get a better rating than a construction worker who is constantly in the. Possible atmosphere to be injured, right? Construction sites, you wear hard hats. You have risk for injury. Someone who sits at a computer every day, maybe not so much, but also keep in mind that.
Your occupation is not limiting to what you can be paid for either. There is something you can put in your contract that says, I can't do my job. You're gonna pay me. It doesn't mean any job. So I actually negotiate this for all my clients. It is a rider, it is a special rider you add, but the ability to be able to get paid when you can't do your job.
And it doesn't matter if you can do another one. So one [00:30:00] example, real life example. Let's say you're a surgeon. You injure your hand and now you are unable to perform surgery until it is healed, but you are a medical doctor who could potentially teach with no problems. Your disability policy, if you have the right writer that says I can't do my job, which is performed surgery, you will get paid your disability check and you can still teach at the same time and get a teaching check.
So I'm not trying to say, Hey, you gonna file disability and get all these checks, but you do wanna have the option to do something else if you can do something else, right? And not limit that from your ability to get your disability checked. If you don't have the best disability policy and it says you can't work any job, you'll find yourself really restricted because if you can still work at McDonald's, they're gonna tell you to go work at McDonald's before they pay you, right?
So you wanna have what we call own [00:31:00] occupation rider, the one that says, if I can't do my own job, I should be paid my benefit. Yeah, I like
Naseema: that. I think I definitely did check from our first conversation to see that I had that, because obviously, I'm on disability, there are still some things I can do to earn an income, so I didn't want that to limit that opportunity.
Acquania: Yeah. Yeah. So there's so much to know, and I know it can seem overwhelming, but just contact me or anyone you know, who is licensed to sell life and health insurance, and they should be able to navigate the process for you, for your state. You do need a license for that state in order to really help a client and to pursue the policy.
But it's a great time to ask questions, obviously before you have any health issues. The better. But there are individuals who have had health issues and still gotten qualified for disability insurance. It may be at a higher cost or they may exclude certain [00:32:00] things based on your health conditions. So just keep that in mind too.
For example, if you've already, had a back injury, you might get disability insurance, but they might exclude. A back injury because you've already had it maybe more than once, and they don't wanna put themselves at risk to be responsible. But any other injury or an injury not created for the same reason.
Let's say you're in a car accident and your arm is hurt or your legs, and yes, you have back pain with that too, those two. Can be considered new injuries that now warrant your eligibility for your disability policy. So that's another reason why I say please get covered before your health issues start to come up.
Because then you don't have exclusions and anything can happen and you're covered. Cuz once you start to have high blood pressure, chronic back pain, arthritis, now they're gonna say, Ooh, we don't wanna cover this, but we'll cover that. And it just, it gets. [00:33:00] Sticky, right? Definitely get covered as soon as you can,
Naseema: but I think what's most important is that it's not one size fits all.
It's very individual. It's very specific. So what's super important? That you work with an expert, like a quia that can get the best coverage for you specifically. And I also put a link in the show notes for you to book a free consultation with Acquania if you're interested in looking up a policy.
But, make sure that the person is gonna be, if you don't work with Acquania, make sure that person is licensed in your state because these are state specific policies, and like I said, they should be catered specifically to you. So this is something that you wanna be able to ask questions about and you wanna work with somebody who can pick up on those things that can make sure that they include the right riders, for example, like we talked about for you.
So make sure you. Reach out to a licensed professional and get this done. And since this is [00:34:00] May and it is disability insurance awareness a month, it is a great time to check in with your current policy or all get a new policy
Acquania: in place. Yes, do that.
Naseema: All right, thanks Acquania so much for another amazing episode.
I hope you guys got all the gems here and
Acquania: see you next week. Bye-bye.
Hey there I’m Naseema
My dream is for everyone to know that financial independence is attainable with a little intentionality. Learn how I can help you finally break the cycle of living paycheck to paycheck.
Join the Facebook Community
Join the Financially Intentional community and get access to resources to guide you on the path to Financial Freedom.
Watch these Videos To Learn How to…
Keep Listening
Here are some more episodes you may enjoy…
In this episode, we'll explore why disability insurance is important, how it works, and why it's important to have coverage.