skip navigation

Financial Planning Strategies - Don Leander, CFP

DON LEANDER, Certified Financial Planner

Contact Us

Financial Planning Strategies - Don Leander, CFP
6645 Delmonico Blvd., Suite 101
Colorado Springs, CO 80919
Phone: 719-266-5335 / 800-375-9850
DonLeander@gmail.com
Map and Directions
  • Home
  • About Us
    • The mission of Financial Planning Strategies is to help you secure every aspect of your financial future and give you peace of mind today in all your investment and financial planning goals
    • Our Location
    • Our Services
    • Sitemap
    • Tell A Friend
  • Resources
    • Articles
    • Calculators
    • Flipbooks
    • Newsletters
    • Glossary
    • Tax Library
    • Videos
  • Market Watch
    • Detailed Quote
    • Symbol Lookup
    • Multi Quote
    • Markets at a Glance
    • Charting
    • Portfolio
  • Request A Quote
    • Annuity
    • Long-Term Care Insurance
    • Life Insurance
    • Information Request
  • Contact Us
share |
Printed from: www.donleander.com
  • Financial Planning Strategies
  • 6645 Delmonico Blvd., Suite 101, Colorado Springs, CO 80919
  • 719-266-5335 / 800-375-9850 | DonLeander@gmail.com

Disability Income Insurance

How Much Do You Need?

According to the LIFE Foundation, one in seven workers will suffer a disability lasting five years or more before retirement.

If you were to become disabled due to an illness or injury, how would your cash flow be affected? Would you have enough income to meet monthly expenses? This calculator can help you estimate your need for income protection in the event you become disabled.

According to CNNMoney, nine out of 10 disabilities are caused by common illnesses and health conditions such as back problems rather than by injuries.

 

Based on the information you provided, the amount of income shortfall you might experience during a long-term disability is shown below.

Your Results

Your current monthly expenses: $0
Additional monthly expenses if you were disabled: $0
Your estimated total monthly expenses: $0
Your estimated monthly income during an extended disability: $0
Monthly funds available from other/retirement assets: $0
Your estimated additional monthly income needed: $0
The percentage of estimated total monthly expenses that you would need to replace in the event of a long-term disability: 0%

Long-term disability (LTD) benefits are taxable when the employer pays the premiums, reducing an already limited benefit. In addition, employer provided LTD, even if employee paid, may not be portable. Disability income insurance coverage is generally limited to 60 percent to 70 percent of salary and typically has a monthly cap. Income may not be fully covered due to the cap. Bonuses are not counted as covered income by most LTD policies.

Income may be available from the following sources, but only for a limited time:

  • Accumulated sick-pay benefits.
  • Salary continuation benefits.
  • Short-term disability benefits (typically one year or less, limited amount).

This chart shows the percentage of your monthly expenses that you may need to replace in the event of a long-term disability. A disability income insurance policy is one tool you may want to consider to help you address this potential shortfall. Social Security pays disability benefits, but you must be considered totally disabled, and it can be difficult to qualify for benefits.

Total Monthly Expenses

 

This hypothetical example is used for illustrative purposes only. Actual results will vary.

The information in this calculator is not intended as tax or legal advice, and it may not be relied on for the purpose of avoiding any federal tax penalties. You are encouraged to seek tax or legal advice from an independent professional advisor. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.

This material was written and prepared by Emerald Connect, LLC.
© 2019 Emerald Connect, LLC. All Rights Reserved.

background image for page 1 background image for page 2 background image for page 3

About Us

  • The mission of Financial Planning Strategies is to help you secure every aspect of your financial future and give you peace of mind today in all your investment and financial planning goals
  • Our Location
  • Our Services
  • Sitemap
  • Tell A Friend

Learning Center

  • Articles

    Educate yourself on a variety of financial topics.

  • Calculators

    A host of financial tools to assist you.

  • Newsletters

    Timely Newsletters to help you stay current.

  • Videos

    A dynamic library of videos.

  • Flipbooks

    These magazine-style flipbooks provide helpful information.

  • Glossary

    Financial terms from A to Z.

  • Tax Library

    Manage your taxes and prepare for the upcoming tax season.

Market Watch

Last Closing Prices

Ticker Name Percent Difference (when noted with %) otherwise Last Price Difference (where applicable)
Nasdaq Composite 7,472.41 +0.61%
NYSE Composite 12,603.48 +1.31%
PHLX Semiconductor Index 1,351.18 +0.53%
OSX Oil Service Sector Index 98.58 +2.61%

[ Markets | Charts | Quotes | Portfolio ]

Market data delayed per exchange rules.
All quotes are in US Eastern Time (EST).
Market data provided by ICE Data Services. ICE Limitations. Powered and implemented by FactSet. Legal Statement.

Contact Us

Financial Planning Strategies - Don Leander, CFP
6645 Delmonico Blvd., Suite 101
Colorado Springs, CO 80919
Phone: 719-266-5335 / 800-375-9850
DonLeander@gmail.com
Map and Directions

 

 

Required Disclosure: Don Leander is primarily a fee-only financial adviser (dba: Financial Planning Strategies) and a registered investment advisory firm, and is not employed by any brokerage firm. Schwab Institutional is the primary brokerage recommended to provide client statements, online services, and securities transaction clearing.  Don is also a licensed insurance agent, and when requested, will work for clients as an independent agent recommending various kinds of insurance or annuities, when appropriate, which can result in commission compensation.  A copy of Don Leander's disclouure brochure (Form ADV Part II) is available upon request.  Don Leander is available to work with a limited number of clients in all 50 states, but primarily focuses on clients in the states of Colorado and Texas.                                                                                                          

                                                                                      

 

Colorado Springs Investment Advisor | Financial Advisor Colorado Springs   
Estate Planner Colorado | Colorado 529 Plans Colorado Springs | Sitemap

© Donleander.com

 

 

 


 

 

  • Site Map