Basics of Disability Insurance, Explained with Mike Cogdall скачать в хорошем качестве

Basics of Disability Insurance, Explained with Mike Cogdall

In this in-depth conversation, Jamie Fleischner is joined by disability insurance educator Mike Cogdall, founder of Career Concepts Authority and a nationally respected voice in income protection. With decades of experience helping thousands of professionals safeguard their paychecks, Mike breaks down disability insurance in clear, practical terms—what it is, how it works, and why so many people misunderstand it. Most professionals build their financial lives around one central assumption: their income will always be there. It pays off student loans, supports families, funds retirement, and creates options. But as host Jamie Fleischner explains in this episode, income is often a person’s most valuable financial asset—and one of the least protected. Mike reframes disability insurance as what it truly is: paycheck insurance or income protection. While many consumers associate the word “disability” with permanent, visible impairments, the reality is that most long-term disabilities stem from illness or diagnosis—not accidents. And yet, only a small percentage of the workforce owns individual disability coverage, even as millions insure far less valuable assets like smartphones. Throughout the episode, Jamie and Mike cover: • Why income is often worth millions over a career—and why it should be protected accordingly • The core building blocks of an individual disability policy, including elimination periods, benefit periods, and benefit amounts • How own-occupation coverage works—and why it can be critical for professionals such as physicians, attorneys, and business owners • The difference between employer-provided group disability insurance and individually owned policies • How underwriting works and what carriers evaluate at the time of application • Why age, health, and timing matter—and why your next doctor’s visit could change your insurability • Common misconceptions about claims and how carriers actually evaluate risk • The importance of working with an experienced, independent advisor who can compare multiple carriers Mike also shares real-world examples of claims involving professionals diagnosed with conditions such as Parkinson’s disease, stroke, and other illnesses that permanently altered their ability to work in their trained occupations. The discussion highlights how properly structured coverage can provide financial stability—even when careers unexpectedly end. The episode also addresses underwriting nuances, from mental health history and pre-existing conditions to occupation class, income structure, and lifestyle risks. Jamie and Mike explain why disability insurance should not be treated as a commodity product—and why policy structure, riders, and carrier selection matter. Whether you are early in your career and feel invincible, or further along and recognizing how quickly circumstances can change, this conversation offers a clear, comprehensive look at one of the most overlooked areas of financial planning. If your income funds your entire life, this episode makes the case for protecting it with the same seriousness as any other major asset.