Protecting Your Income with Disability Insurance: A Wealth Management Perspective

At Truly Aligned: A Wealth Management Firm, we take pride in providing comprehensive wealth management services that go beyond traditional investment advice. As wealth managers, our mission is to align every aspect of your financial life with your values and goals. One of the most crucial elements of this alignment is protecting your income through disability insurance.

Your ability to earn an income is typically your most valuable asset, especially early in your career. Advances in technology and healthcare have made it more likely for individuals to live through disabling events rather than passing away, making disability insurance a cornerstone of any wealth management strategy.

What Is Disability Insurance?

Disability insurance is designed to replace a portion of your income if you’re unable to work due to illness or injury. While we often plan for retirement and other long-term goals, many overlook the importance of protecting their income—the foundation of all wealth-building efforts. As wealth advisors, we ensure that disability insurance is fully integrated into your overall wealth management plan, aligning with your unique needs and circumstances.

Why Is Disability Insurance Important?

If you’re in the early stages of your career, your ability to work and generate income is your greatest financial asset. A disability can disrupt your income stream, jeopardizing your financial stability and long-term goals. Disability insurance provides the safety net you need to maintain your lifestyle and continue planning for the future, even if an unexpected illness or injury prevents you from working.

At Truly Aligned, we often remind clients that while assets like investments and savings are important, your income is what fuels those assets. Protecting it through disability insurance is not just a smart financial decision—it’s essential for sustaining your overall wealth management strategy.

Employer-Sponsored Group Disability Insurance

If you are employed and have access to benefits through your employer, you may already have group disability insurance coverage. However, as wealth managers, we frequently find that employer-provided plans leave significant gaps.

Group policies often cover only a portion of your salary, typically 50-60%, and may cap monthly benefits at a level far below what you actually need to maintain your lifestyle. Additionally, group disability benefits are often taxable, further reducing the amount you receive. For high-income earners, this often means the vast majority of your income is not covered through group disability insurance.

As wealth advisors, we assess your employer-provided disability plan to identify these gaps and recommend private disability insurance to supplement your coverage. This ensures that your income is adequately protected, even in the event of a long-term disability.

The Need for Disability Insurance for the Self-Employed

If you’re self-employed, the need for disability insurance becomes even more critical. Without the safety net of employer-provided benefits, your financial security rests entirely on your ability to generate income.

At Truly Aligned, we work closely with self-employed clients to design disability insurance policies that align with their unique needs. Private disability insurance offers customizable options to ensure you’re fully covered, protecting both your income and your business. This level of protection is vital for maintaining financial stability and continuing to achieve your goals.

How Much Coverage Do You Need?

Determining the right amount of disability insurance coverage is a key part of our wealth management process. As wealth advisors, we evaluate your income, monthly expenses, and long-term financial goals to recommend the appropriate level of protection.

A typical disability insurance policy replaces 60–80% of your income. However, depending on your financial situation, you may need less or additional coverage to ensure you can meet all your obligations, from mortgage payments to retirement savings.

The Benefits of Private Disability Insurance

Private disability insurance fills the gaps left by employer-sponsored plans or the lack of employer coverage for self-employed individuals. It provides flexibility in terms of benefit amounts, waiting periods, and coverage terms. It protects your income and offers security, knowing that you’re properly prepared for any life event.

At Truly Aligned: A Wealth Management Firm, we shop policies from top providers to find the best options for our clients. As wealth managers, we ensure that every aspect of your disability insurance aligns with your broader financial strategy, offering you a comprehensive and effective solution.

Simplifying the Insurance Process

Securing disability insurance doesn’t have to be a daunting task. As wealth managers, we streamline the process, guiding you through every step—from determining your coverage needs to comparing policies and finalizing your plan.

Our team handles the complexities so you can focus on what matters most. With our expertise, you’ll have a disability insurance plan that’s efficient, effective, and fully aligned with your overall wealth management strategy.

Aligning Your Wealth with Your Life

At Truly Aligned: A Wealth Management Firm, we are more than wealth advisors—we are your partners in achieving financial harmony. Protecting your income with disability insurance is a fundamental part of our comprehensive wealth management approach.

Whether you’re employed with group benefits or a self-employed professional, we ensure your coverage is optimized to meet your needs. By integrating disability insurance into your broader financial plan, we help you maintain stability and confidence, even in the face of unexpected challenges.

Ready to align your wealth with your life? Contact Truly Aligned today to learn how our wealth managers and advisors can help you secure the disability insurance you need to protect your income and achieve your financial goals. Together, we’ll build a strategy that empowers you to live with clarity and purpose.