The article focuses on the relevance of disability insurance and how to address misconceptions clients may have about it. There is a significant emphasis on the critical role of disability insurance in financial planning and overall well-being, as it provides income and cash flow protection. This topic is often avoided by clients due to the involved term ‘disability’, however, delaying discussions can result in harm.

A common misconception is that disability insurance is only for catastrophic accidents and for individuals who are permanently and physically disabled. This leads many clients to bypass income and cash flow protection policies that they are worried about. The article encourages financial professionals to help clients understand how these elements are interconnected.

It also explains the gap between employer-sponsored and individual disability insurance offerings, and it’s essential to understand what is included and what is not in both types. Employer-sponsored insurance is where most clients seek coverage. However, this coverage is usually capped at 60% of the client’s salary. Higher-income earners may find that they receive less than this set percentage and often, bonuses and commissions are not covered.

Another point made is the uncertainty around employer contributions towards disability coverage. One-third of employers fully cover the cost of insurance premiums; however, this is subject to change with 17% planning to decrease or eliminate contributions.

By offering a holistic view of disability insurance as part of financial planning, clients can be prepared for potential leaves and protect their financial well-being. Larry Hazzard, who heads individual disability at Guardian, makes these points clear in his commentary.

If you or any of your clients are based in California and have queries related to disability claims or need to contact someone at the Employment Development Department (EDD), reaching a live representative to discuss your concerns can be a bit challenging. For assistance on how to speak to someone at edd disability, you can visit eddcaller.com. On this platform, you’ll find various resources and insights that can help streamline your communication with EDD, ensuring your concerns and queries are adequately addressed.