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Disability Insurance

Disability Insurance

Disability Insurance

One of every four American workers faces at least a short-term disability during his or her career, according to a report issued by the Council for Disability Awareness. As experienced financial advisors, Macino Financial works with clients to determine if investing in a disability insurance policy makes sense for them. Unfortunately, we have also seen first-hand the devastating financial consequences that a disability can have on a family. Whether the disability occurs due to an on-the-job accident or a serious illness, decreased income from no longer working a full schedule takes its toll.

Differences Between Social Security and Private Disability Insurance

Gaining approval for social security disability insurance (SSDI) is notoriously difficult. Some people just give up rather than file endless appeals because the process and criteria for approval can be daunting. Even those approved for SSDI only receive a capped monthly payment amount, regardless of how much they earned while working. Private disability insurance, on the other hand, can pay you up to 70 percent of your salary at the time of your disability.

Should You Apply for Short-Term or Long-Term Disability Insurance?

Some people are fortunate to have short-term disability, long-term disability, or both available to them through their employer. If you’re not among them, it’s up to you to research your options and apply for the policy that best meets your needs. Short-term disability provides income protection for up to six months from the initial date of the illness or injury. Long-term disability may cover a portion of your wages for the remainder of your life if necessary. Some disability insurance providers offer benefits such as guaranteed renewal and cost-of-living adjustments as well.

How Do Disability Insurance Providers Calculate Your Premium?

Insurance providers consider several factors when determining how much you pay for coverage each month, including:

  • The current state of your health
  • Your occupation
  • Lifestyle habits that may increase your risk, such as smoking
  • The benefits you prefer to receive

Insurance companies underwrite disability policies just as they do for other types of policies. You must honestly disclose any health conditions or risk categories at the time of your application to receive an accurate quote. Macino Financial will help you understand possible limitations to any policy you’re considering, such as exclusions for pre-existing health conditions. No one plans to become disabled, but you can achieve peace of mind with a disability insurance policy.

We want what is best for our clients, including helping you avoid common social security planning mistakes. By taking the time to meet with David or his team at MFS now, you can enjoy your retirement years to the fullest and see for yourself about being a social security millionaire.

Retirement. Your vision. Our passion.

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Investment advisory services offered through Virtue Capital Management, LLC (VCM), a registered investment advisor. VCM and Macino Financial Services are independent of each other. For a complete description of investment risks, fees and services, review the Virtue Capital Management firm brochure (ADV Part 2A) which is available from your Investment Advisor Representative or by contacting Virtue Capital Management.

The content of this website is provided for informational purposes only and is not a solicitation or recommendation of any investment strategy. Investments and/or investment strategies involve risk including the possible loss of principal. There is no assurance that any investment strategy will achieve its objectives.


Information provided is not intended as tax or legal advice, and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.


Macino Financial Services and/or David Macino are not affiliated with or endorsed by the Social Security Administration or any other government agency.


Fiduciary duty extends solely to investment advisory advice and does not extend to other activities such as insurance product sales, including annuities, life insurance, and long term care insurance or broker dealer services. Advisory clients are charged a monthly fee for assets under management while insurance products pay a commission, which may result in a conflict of interest regarding compensation. IAR is also a licensed insurance agent. In this capacity, IAR may offer fixed life insurance products and receive normal and customary commissions. The client is under no obligation to purchase products through IAR on a commissionable basis. In addition, IAR may receive other compensation such as fixed or variable life trails. The potential for receipt of commissions and other compensation when IAR acts as an insurance agent may give IAR an incentive to recommend insurance products based on the compensation received.

Index or fixed annuities are not designed for short term investments and may be subject to caps, restrictions, fees and surrender charges as described in the annuity contract. Guarantees are backed by the financial strength and claims paying ability of the issuer.

Investment advisory services are offered through Virtue Capital Management, an SEC Registered Investment Advisor. Macino Financial and VCM are independent of each other. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.All investment strategies have the potential for profit or loss. Changes in investment strategies, economic conditions, contributions or withdrawals may significantly alter a portfolio’s performance. There is no guarantee that any specific investment or strategy will be suitable or profitable for a particular client. Past performance is no guarantee of future success. We cannot guarantee that a portfolio will match or outperform any particular benchmark. None of the content should be viewed as an offer to buy or sell, or as a solicitation of an offer to buy or sell the securities discussed. Information on this website does not involve the rendering of personalized investment advice, but is limited to the dissemination of general information on products and services. A professional adviser should be consulted before implementing any of the options presented.