Tune in to our podcast series: The Dental Board Room
Listen Now

Staying Prepared: Why You Shouldn't Overlook Disability Insurance

by Greg Maravilla, MBA, CPA, CFP® | July 14, 2022

At the time, about 10% of my clients have a serious health issue going on, ranging from stroke to cancer, and ranging ages mid-30s and up.  In my 6 years with PracticeCFO, I don’t recall a single incident of disability, and yet a number are occurring now.  Perhaps it’s coincidence or the accumulation of 2 years of pandemic-related stress.  I’m hopeful most of them will be just fine. 

However, the first thing that they ask me about is how much their Individual Disability Insurance or Life Insurance will pay out.  Some folks are on top of these things, but many are not. 

Please don’t wait until a health event arises before you get your act together.  That’s especially important if you have a family.  Even if you have policies, get them assembled and review them every year or two. Additionally, be sure your familiar and the people who depend on you know where to find them. 

Your CFO advisor and our internal insurance reviewer would be happy to review what you have.  About half the time with my clients I find they have sufficient coverage. The other half the time, additional coverage is needed, or there are policies with better terms or rates than the current policies.

PracticeCFO has a non-captive affiliate who helps us place term life and disability policies.  Alternately, if you have an agent you like working with, please have them review your coverage every few years.  Chances are very high you’ll never need the coverage.  But if you do, you’ll want to be prepared.

What our clients say
Disclaimer: The marketing materials presented on this website include testimonials that serve as reviews of PracticeCFO Investments’s products and services. PracticeCFO Investments does not compensate clients for reviews or testimonials, and PracticeCFO Investments does not provide anything of value in exchange for these reviews. PracticeCFO Investments has determined that there are no material conflicts of interest between the firm and the participant, and PracticeCFO Investments has not influenced the statement made by the client(s) appearing on this website.
Are you ready to get started with PracticeCFO?
Pick Your CFO Team
Subscribe to our newsletter to receive news, updates, and valuable tips.
Footer Newsletter Signup

This will close in 0 seconds

linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram