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DarrasLiving Blog

Your source for the latest health, disability and insurance news and tips.

Substance Abuse and Addiction Issues

No one is immune and you are not alone.

Substance abuse plagues people from all walks of life  and remains a misunderstood form of disability. Not everyone believes that addiction and substance abuse should be considered a disability. One thing everyone can agree on is that substance abuse and addiction can quickly become a truly disabling force in a person’s life.
 

Are you fluent in long-term care?

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The idea of sitting down to plan for long-term care is not appealing to many individuals. The reluctance often stems from worries about shortages ofmoney or the thought of dying. Some people are unwilling to address a possible issue when it seems to be in the distant future.

People need to realize that long-term care planning is an essential component of retirement planning. Failure to act soon can mean major expenses for loved-ones in the years ahead.

What are my options for long-term care?

We previously discussed why it's so important to undertake long-term care (LTC) planning sooner rather than later. We also talked about how the unfamiliar language of LTC policies can make considering the coverage a challenge.

Today we continue by helping you plan for your golden years. Specifically, we will examine the many options and price ranges available to seniors. 

The importance of checking your work

Technology has advanced considerably in terms of payment options. All it takes to complete various transactions is now a swipe, scan or click. However, many of us are still reaching for our checkbooks because everyone from landlords to daycare providers are reluctant to abandon this old-fashioned payment method.

As we get further away from checking's hay day, it is crucial to review your payments to avoid costly drafting errors.

What are my tax obligations concerning disability benefits?

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Chances are good most people have yet to devote a single thought to Tax Day 2018 since is still nine months away. While tax considerations are not a priority right now, one's situation can change fairly quickly.

Consider what happens if you suddenly suffer a debilitating injury or illness. If the condition prevents you from working, it is possible you may need to file a long term disability claim. Depending on the circumstances, the federal government may view this as taxable income. As such, it behooves you to start keeping records of your received benefits.

Why are so many people declining life insurance?

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Life insurance is an invaluable investment for people from all walks of life. The benefit is helpful regardless of whether you're talking about term-life or whole-life policies.

The former allows policyholders to financially protect loved ones in the event of their passing while the latter, provides this same death benefit plus an added retirement planning component.

How Offsets Can Affect Your Disability Benefits

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Individuals who are eligible to receive long term disability insurance should be aware that any benefits received from other income sources could seriously reduce their monthly disability benefits.

Offsets are policy provisions that permit your insurer to deduct other sources of income you are receiving or are eligible to receive due to your disability.

These provisions may only amount to a few sentences in your policy that indicate your insurer is authorized to deduct "other benefits" from your monthly sum. You can often find the details of what constitutes "other benefits" under a separate section of the policy that explains how the offsets will be implemented.

Is a reverse mortgage really a viable alternative to a long-term care policy?

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Individuals in their 50s and 60s who are close to retirement feel both excitement and trepidation. The former relates to leaving the workforce, while the latter relates to longevity of assets. People have rightful concerns about health care expenses rapidly consuming their retirement savings.

Is long-term care (LTC) insurance the answer? Experts aren't always sold on LTC policies given their skyrocketing premiums.

Why attorneys need to make disability insurance a priority

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The motivations for pursuing a law degree and, by extension, a law license are truly varied. For some, the desire is to see justice served, for others it's giving a voice to the voiceless. Still others, however, are motivated by the promise of a reliable income.

Whatever their inspiration, statistics show that entering the legal field is not a bad move career-wise. The Bureau of Labor Statistics projects 10 percent job growth in the industry over the next decade.