{"id":10741,"date":"2020-06-03T15:16:36","date_gmt":"2020-06-03T19:16:36","guid":{"rendered":"https:\/\/lifehappens.org\/?page_id=10741"},"modified":"2024-07-24T15:16:17","modified_gmt":"2024-07-24T19:16:17","slug":"how-should-i-manage-my-disability-insurance-policy","status":"publish","type":"page","link":"https:\/\/lifehappens.org\/disability-insurance-101\/how-should-i-manage-my-disability-insurance-policy\/","title":{"rendered":"How should I manage my disability insurance policy?"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; make_equal=&#8221;on&#8221; specialty=&#8221;on&#8221; padding_top_2=&#8221;20px&#8221; padding_right_1=&#8221;50px&#8221; padding_top_bottom_link_1=&#8221;false&#8221; padding_top_bottom_link_2=&#8221;false&#8221; padding_left_right_link_1=&#8221;false&#8221; padding_left_right_link_2=&#8221;false&#8221; custom_css_main_1=&#8221;border-right:1px solid #eeeeee;&#8221; _builder_version=&#8221;4.16&#8243; inner_width=&#8221;90%&#8221; inner_max_width=&#8221;none&#8221; inner_module_alignment=&#8221;right&#8221; custom_padding=&#8221;60px||||false|false&#8221; top_divider_color=&#8221;#3390ff&#8221; top_divider_flip=&#8221;vertical|horizontal&#8221; top_divider_arrangement=&#8221;above_content&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;3_4&#8243; specialty_columns=&#8221;3&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_row_inner _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;20px||||false|false&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column_inner saved_specialty_column_type=&#8221;3_4&#8243; _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;][et_pb_button button_url=&#8221;\/disability-insurance-101&#8243; button_text=&#8221;Disability Insurance 101&#8243; module_class=&#8221;button_icon_right&#8221; _builder_version=&#8221;4.16&#8243; custom_button=&#8221;on&#8221; button_border_width=&#8221;0px&#8221; button_letter_spacing=&#8221;0px&#8221; custom_padding=&#8221;0em|0em|0em|0em|false|false&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_button][et_pb_text _builder_version=&#8221;4.16&#8243; _dynamic_attributes=&#8221;content&#8221; header_font_size=&#8221;38px&#8221; custom_margin=&#8221;||||false|false&#8221; custom_padding=&#8221;||||false|false&#8221; locked=&#8221;off&#8221; global_colors_info=&#8221;{}&#8221;]@ET-DC@eyJkeW5hbWljIjp0cnVlLCJjb250ZW50IjoicG9zdF90aXRsZSIsInNldHRpbmdzIjp7ImJlZm9yZSI6IjxoMT4iLCJhZnRlciI6IjwvaDE+In19@[\/et_pb_text][et_pb_text _builder_version=&#8221;4.16&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>It\u2019s a good idea to review your disability insurance whenever you experience a big life change. That\u2019s because the need to protect your future income stream becomes more urgent when new people depend on your earnings or you take on (or pay off) debt.<\/p>\n<p>Life changes that should trigger a disability insurance review include:<\/p>\n<ul>\n<li>Getting married<\/li>\n<li>Getting divorced<\/li>\n<li>Buying a house<\/li>\n<li>Having or adopting a baby<\/li>\n<li>Accepting a new job<\/li>\n<li>Receiving a substantial raise or promotion<\/li>\n<li>Taking out a mortgage or other loan<\/li>\n<li>Refinancing your home<\/li>\n<li>Paying off your mortgage<\/li>\n<li>Buying a business<\/li>\n<li>Selling a business<\/li>\n<li>Receiving an inheritance<\/li>\n<li>Having a loved one require long-term care<\/li>\n<li>Assuming financial responsibility for an eldery parent<\/li>\n<li>Becoming an empty nester<\/li>\n<li>Experiencing a death in the family<\/li>\n<\/ul>\n<p>Things are a little different if your disability insurance is through your employer. Your employer-sponsored disability insurance coverage typically replaces a percentage or multiple of your current salary\u2014for instance, 50%. So your coverage automatically increases whenever you get a raise. That said, it\u2019s important to remember that your employer-sponsored disability insurance may not provide enough disability insurance income to maintain your desired standard of living should you become injured or ill. You also lose your disability insurance benefits if you leave your job or are terminated. For that reason, it\u2019s a good idea to talk to your company\u2019s human resources department or a financial professional about possibly getting extra disability insurance to supplement what you already have.<\/p>\n<p>Even if you don\u2019t experience a major life change, it\u2019s still a good idea to meet with your financial professional once a year to review your disability insurance. He or she can make sure it\u2019s able to protect you and your family if an injury or illness prevents you from working. He or she can also tell you about new coverage options worth considering.<\/p>\n<p>The best way to learn more about disability insurance and to get a disability insurance quote is from a financial professional. Get started today with our <a href=\"\/choosing-an-agent\/#locator\">locator<\/a>.<\/p>\n<p>[\/et_pb_text][\/et_pb_column_inner][\/et_pb_row_inner][\/et_pb_column][et_pb_column type=&#8221;1_4&#8243; _builder_version=&#8221;4.16&#8243; custom_padding=&#8221;|||&#8221; global_colors_info=&#8221;{}&#8221; custom_padding__hover=&#8221;|||&#8221;][et_pb_text _builder_version=&#8221;4.14.2&#8243; text_font=&#8221;Montserrat|600||on|||||&#8221; text_font_size=&#8221;15px&#8221; custom_margin=&#8221;0px||0px||false|false&#8221; custom_padding=&#8221;58px|||20px|false|false&#8221; global_module=&#8221;2892&#8243; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p>Learn more<\/p>\n<p>[\/et_pb_text][et_pb_sidebar orientation=&#8221;right&#8221; area=&#8221;et_pb_widget_area_6&#8243; show_border=&#8221;off&#8221; _builder_version=&#8221;4.14.2&#8243; body_text_color=&#8221;#002838&#8243; body_font_size=&#8221;14px&#8221; body_line_height=&#8221;1.3em&#8221; custom_padding=&#8221;20px|80px|||false|false&#8221; global_module=&#8221;10688&#8243; global_colors_info=&#8221;{}&#8221;][\/et_pb_sidebar][\/et_pb_column][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s a good idea to review your disability insurance whenever you experience a big life change. That\u2019s because the need to protect your future income stream becomes more urgent when new people depend on your earnings or you take on (or pay off) debt. Life changes that should trigger a disability insurance review include: Getting [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":10590,"menu_order":7,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"class_list":["post-10741","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How should I manage my disability insurance policy? &#8211; Life Happens<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/lifehappens.org\/disability-insurance-101\/how-should-i-manage-my-disability-insurance-policy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How should I manage my disability insurance policy?\" \/>\n<meta property=\"og:description\" content=\"[et_pb_fullwidth_module_placeholder selected_tabs=&quot;all&quot;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/lifehappens.org\/disability-insurance-101\/how-should-i-manage-my-disability-insurance-policy\/\" \/>\n<meta property=\"og:site_name\" content=\"Life Happens\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/lifehappens.org\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-24T19:16:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/lifehappens.org\/wp-content\/uploads\/2021\/06\/og_image_LifeHappens_logo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@lifehappens\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/lifehappens.org\/disability-insurance-101\/how-should-i-manage-my-disability-insurance-policy\/\",\"url\":\"https:\/\/lifehappens.org\/disability-insurance-101\/how-should-i-manage-my-disability-insurance-policy\/\",\"name\":\"How should I manage my disability insurance policy? 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