Disability Insurance

The Importance of Planning

The second you are disabled, so is your ability to earn an income. Consider the amount you spend each month. Where would the money come from if you were to become disabled?

Savings: Are you willing to deplete a trust fund or use your retirement savings? If you save 5% of your income each year, it’s possible that you could wipe out 10 years of savings in 6 months!
Loans: If you borrow from family or friends, you’re lucky. If you have to rely on a financial institution, you may not be as fortunate. Many banks are reluctant to lend money to someone without an income.
Spousal Income: Can your spouse pay all your monthly expenses and maintain your current standard of living?
Sale of Assets: Would you be willing to sell your home or car? Would you receive fair market value for these assets?

If you will always need an income, Disability Insurance is worth a second look.

Why not protect your ability to earn an income with disability insurance? You couldn’t afford a car if you didn’t have an income; but it’s protected. You couldn’t make payments on your house if you didn’t have an income; but it’s protected. In fact, you might have to part with some of your possessions if you didn’t have an income; but even they’re protected!

While you may have life insurance to protect the financial security of your loved ones in the event of your death, what would happen to them if you become disabled? Your odds of becoming disabled for 90 days or longer during your working career are higher than the chances of dying during the same period.

Without disability insurance, your other insurance may not be enough to protect your standard of living. Your ability to earn an income is one of your most valuable assets. Without an income, your whole life could change as early as tomorrow. You may not get a second chance. Protect your tomorrow with disability insurance today.