Do You Need Disability Insurance in Connecticut?

Most people only consider disability insurance when forced to, after a health scare or an accident. But the truth is, disability insurance is something everyone should be paying attention to…

April 26, 2023

Written by John Wonneberger

Most people only consider disability insurance when forced to, after a health scare or an accident. But the truth is, disability insurance is something everyone should be paying attention to – especially business owners and entrepreneurs. Why? Because if you can’t work because of an injury or illness, you could lose everything. That’s why it’s so important to have wealth management with Disability Insurance in Connecticut experts.

At Nesso Wealth, we can help protect you and your family from financial disaster if something happens. Our team will work with you to evaluate your current financial situation and develop a plan that fits your unique needs and goals. We will provide guidance and direction as you work toward your financial goals. With our help, you can achieve the financial freedom you desire. Contact us today to get started.

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Who We Are at Nesso Wealth

At Nesso Group, we understand that financial planning is not a one-size-fits-all endeavor. That’s why we take a personalized approach with each and every client. We start by evaluating your current situation and analyzing your assets, income, and expenditures. This helps us to identify what you need on a day-to-day basis and what you can do to pursue your financial goals.

We then provide regular reviews and modifications to ensure your financial plan stays current and dynamic. Whether you’re looking to save for retirement, buy a new home or simply get a handle on your finances, our team of financial planning professionals can help.

Our Company Values

At heart, our company is built on the expertise of our financial and insurance professionals. They are the core of what we do – providing guidance and solutions that help our clients plan for their financial futures. This foundation of knowledge allows us to provide an unparalleled level of service. It also allows us to continually innovate, developing new products and services that meet the changing needs of our clients. 

Our commitment to excellence starts with our people and extends to every aspect of our business. From the products we develop to our service, we always aim to exceed expectations and deliver the best possible experience. That is why we are Connecticut’s leading provider of financial and insurance services.

About Nesso Wealth Management

Wealth management is an advisory service that helps clients build and maintain their wealth. We get to know you and your financial goals, then create a custom plan using different products and services.

How Our Service Works

Our wealth management service is more than just investment advice. It encompasses all parts of a person’s financial life. Instead of attempting to integrate pieces of advice and various products from multiple professionals, we know that high-net-worth individuals may be more likely to benefit from an integrated approach. Our wealth managers coordinate the services needed to manage their clients’ assets and create a strategic plan for their current and future needs—whether it is will and trust services or business succession plans.

In certain instances, our advisors will coordinate input from outside financial experts and the client’s service professionals (for example, an attorney or accountant) to craft the optimal strategy to benefit the client.

Which Strategies Do We Apply?

We begin by developing a plan to maintain and increase each client’s wealth based on their financial situation, goals, and risk tolerance. Each part of a client’s financial picture, whether it is tax planning or wills and estates, is coordinated to protect the client’s wealth. This may coincide with financial projections and retirement planning.

After the original plan is developed, we meet regularly with clients to update goals, and review and rebalance the financial portfolio. At the same time, we investigate whether additional services are needed, with the ultimate goal being to remain in our client’s service throughout their lifetime.

About Nesso Financial Planning

A financial plan is a document addressing both a person’s current money situation and long-term monetary goals, as well as strategies to achieve those goals. A financial plan usually starts with an in-depth evaluation of the individual’s current finances and future prospects.

Steps We Take For Your Financial Planning

The first step in creating a financial plan is gathering the financial information into a document or spreadsheet.

Calculating Net Worth

To figure out your current net worth, list all of the following:

  • Your assets: This includes your primary residence, a vehicle, any money you have saved in a bank account, and investments such as a 401(k) plan.
  • Your liabilities: Debt can come in many forms, including credit card debt, student debt, an outstanding mortgage, and a car loan. Sometimes, you may have access to a grace period or moratorium.

FORMULA: The formula for your current net worth is your total assets minus your total liabilities.

Do You Need a Financial Plan?

A financial plan is created to assist you in handling your money efficiently and reaching long-term fiscal objectives, which might include sending your kids to college, buying a larger home, maintaining monetary stability during retirement, or leaving an inheritance.

The Importance of Being Insured

As part of your financial plan, you must account for the costs and risks that could potentially derail your goals. One of the key ways to protect yourself from unexpected expenses or loss of income is through insurance.

Here are 3 reasons why you should invest in a good insurance provider like Nesso Group:

  1. We have a wide range of products and services, including disability insurance for individuals who want to protect their income in the event of an unexpected illness or injury.
  2. We have experienced advisors who can help you navigate through the many different options available to find the right coverage for your particular needs and budget.
  3. We offer flexible payment plans so that you can get the coverage you need without breaking the bank.

So if you’re looking for high-quality insurance services in Connecticut, look no further than Nesso group. With their expert advisors and years of experience, they can help you achieve your financial goals and protect your wealth from unexpected risks.

What is Disability?

Disability insurance, also known as long-term disability insurance, is a type of coverage that helps protect individuals against the financial consequences of an inability to work due to illness or injury. It provides income replacement benefits that help cover living expenses and other costs in the event that you are unable to work due to an unexpected illness or injury.

Explaining Disability Insurance

Disability insurance is a type of coverage that helps protect individuals against the financial consequences of an inability to work due to illness or injury. It provides income replacement benefits that help cover living expenses and other costs in the event that you are unable to work due to an unexpected illness or injury.

There are two main types of disability insurance: short-term and long-term. Short-term disability insurance typically covers a period of several weeks or months, while long-term disability coverage can last for several years or even the rest of your life.

Some of the key benefits of disability insurance include the following:

  • Protection against financial hardship due to a loss of income
  • The ability to maintain your standard of living even if you are unable to work
  • Peace of mind knowing that your family will be taken care of in case something happens to you.

How Does Disability Insurance Work?

Disability insurance works by providing individuals with a monthly benefit that can help cover living expenses and other costs in the event that they are unable to work due to illness or injury. To be eligible for these benefits, you must typically meet certain criteria, such as being unable to work for a set period of time, having an illness or injury that is expected to keep you out of work for a certain amount of time, or being unable to perform the duties required in your current job.

At Nesso Group, we offer a wide range of disability insurance products and services designed to meet the unique needs of individuals in Connecticut. Our experienced advisors will work with you one-on-one to understand your situation and help you find a plan that provides the coverage you need at a price that fits your budget.

Disability Insurance Laws in Connecticut

In Connecticut, disability insurance is regulated by the state’s Department of Insurance. The laws and regulations governing this type of coverage are designed to ensure that policyholders have access to high-quality products and services that meet their needs.

Who Can Apply for Disability Insurance in Connecticut?

In Connecticut, disability insurance is available to individuals of all ages, occupations, and income levels. Whether you are a full-time employee or self-employed, you can apply for coverage from a reputable provider like Nesso Group.

We Look After Your Wellness at All Times in Connecticut

At Nesso Wealth, we understand that life is unpredictable and that accidents happen. That’s why we offer a variety of disability insurance services to help our clients protect themselves and their loved ones. Whether you’re looking for short-term or long-term coverage, we have the right plan for you. We also offer a number of riders that can be added to your policy to customize to your specific needs.

We believe in providing our customers with the best protection against risks such as illness or injury that could potentially derail their financial plans. Our experienced advisors are committed to providing you with tailored wealth management solutions and the guidance you need to make informed decisions about your coverage options. So if you’re looking for disability insurance in Connecticut, contact Nesso Group today and let us help you achieve your financial goals!

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