Reviewing and making sure your coverage protects you in case of medical and surgical expenses as an important protection piece in your overall financial design. We work with both individuals and companies to take over or initialize new medical plans that fits the needs for the person or persons involved.
There are two main types of disability insurance — short-term and long-term coverage. Both replace a portion of your monthly base salary during disability. Disability policies vary in how they define “disabled.” Some policies pay out only if you can’t work any job for which you’re qualified. Others pay out if you can’t perform a job in your occupation. Some policies cover partial disability, which means they pay a portion of the benefit if you can work part-time. Others pay only if you can’t work at all.
**Neither New York Life Insurance Company, nor its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.
***Loans against your policy accrue interest and decrease the death benefit and cash value by the amount of the outstanding loan and interest.
**** Products available through one or more carriers not affiliated with New York Life Insurance Company, dependent on carrier authorization and product availability in your state or locality.