Disability Insurance

Disability insurance will provide a source of funds, a significant portion of your income, should you become injured or sick and are not able to work.  Some people refer to this protection as disability income or paycheck protection.  When evaluating the likelihood of becoming disabled, no one wants to think this will happen to them.  However, the odds are real.  Most people don't realize how likely we are to become disabled at some point in our lives.  If you are thinking, what are the odds?  Here is the staggering reality.

  • It is estimated that 1 out of 5 workers will suffer an accident or an illness which will force them to be out of work
  • The likelihood of being out of work for 90 days due to a disability is 1 out of 3
  • The risk of premature death is lower than the risk of disability

 

Given this reality, we should carefully consider what sources of funds would we have available to us should a disability occur.

  • Will my employer cover me?
  • Will my spouse’s income be enough?
  • Can I use my savings?
  • Will I need to get a loan?
  • Will I need to sell my investments?
  • Can I collect from Social Security?
  • Do I have family or friends that I can count on?

 

If you are able to take advantage of any of the above sources, you are one of the lucky few.  Most of us however, would need to rely on disability insurance for a steady source of funds.  Let one of our licensed and experienced agents guide you in selecting the right protection for you and your family.

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