Disability Insurance and LTC

Disability Insurance

A disability could be devastating to the financial, professional, and lifestyle goals of any key executive. Employers need to minimize the effect of both the cost of coverage of executives and the effect of a disability on the company, weighing their choices carefully, balancing cost and administration burdens with adequate coverage and return-to-work incentives.

Houghton Financial Partners offers Disability Income protection plans that help to recover a portion of your income in the event that you become disabled and cannot work. As many employer-sponsored plans are designed to replace only 50% to 70% of your income, we provide services to analyze a client’s employer plan, ensure you-the client-have adequate protection, and advise you on the benefits of purchasing an individual policy.

We provide individual disability for key executives, group carve-out, and short- and long-term group disability plans. Through our relationship with M Financial Group, we are able to provide proprietary disability products such as MonogramM 750 through Unum and other providers. Being prepared with the right protection can make a big difference.

Long Term Care

Two of life’s greatest comforts, maintaining your independence and living in your own home, are achievable. Getting there as you age requires proactive planning. Long Term Care provides the assistance you need when a serious illness or disability renders you physically or cognitively unable to perform one or more daily living activities for a lengthy period of time. During that time, services needed can range from requiring help with day-to-day activities in your home-such as bathing, dressing, preparing meals-to more sophisticated services like skilled nursing care.

Americans are now living significantly longer lives than we were in the early 1900s, but this increased longevity brings us to face additional challenges. For a couple turning 65 today, there is a 70% chance that one or both of them will need long term institutional care. Even if people plan carefully, they will still face the risk of losing control of their lives and their finances when they become elderly and unable to live independently. Today, Long Term Care insurance provides an alternative for individuals who may require help as they age. This type of insurance offers a mechanism to pay for necessary care while preserving individual and family assets.