Disability Income Protection - Do You Really Need It?
- What if your last payday was your last payday?
- What would the consequences be if you didn't receive another paycheck?
- How would you pay for your everyday expenses such as your mortgage, electricity, car, gas, food, and other insurance coverages (health, auto, home, life) without your next payday?
These simple questions make you think, don't they? If a sickness or accident happened and you were too sick or hurt to work, just how long could you make ends meet without a regular paycheck coming in? For a month, or three months, or three years?
Most Americans understand the need for life insurance, health insurance, car insurance, and even homeowners insurance, but don't stop and think about insuring their ability to work and pay for those expenses. It is vital that we recognize the need for insuring our income because the ability to earn an income is a our most valuable asset.
Consider an individual, 35 years old, who is earning $45,000 a year. Over the next 30 years, this person will earn $1.35 million not including pay increases or bonuses. Without a doubt this $1.35 million asset is probably greater than the value of any other asset they own, such as their home or car. Isn't that $1.35 million asset worth insuring?
--Disability Insurance Is "Bad Luck" Protection--
People don't usually think about what they would do if they became disabled. They might say, "It won't happen to me." But "bad luck" happens when least expected -- despite having that rabbit's foot in your pocket.
What does "bad luck" look like? Maybe it's a fall from a ladder while cleaning the gutters, bad footing on a winter's day, or maybe a simple cold turns into an illness... "Bad luck" is different for everyone and can strike at anytime in the most common ways. That's why it's important to have protection in the form of a disability policy. A monthly disability income benefit may not be a cure, but it can help keep money coming in so life can keep moving. Let a disability income policy be your good luck charm.
If a disability occurs, you need disability income insurance to keep a steady income coming in. Today, most people don't need to suffer because an illness or injury cuts off their paycheck. BUT, having that kind of security does require some advance planning! Doesn't it make sense to plan ahead now to insure your paycheck - the one thing that makes the fulfillment of all your present and future plans, hopes, wants, and desires possible? After all, you insure your life, your health, your home, your car. Doesn't it make sense to insure your income?
The good news is that you can take control of your personal financial situation - starting now. Request your disability insurance quote, get a free copy of "From Here To SecuritySM", A Step-By-Step Guide To Disability Income Insurance, and get the facts about flexible plans to help you solve this major financial problem.
Why Disability Insurance?
"He who becomes a living death, totally and permanently, is just as dead economically as he who is actually dead. The difference between the living death under conditions of permanency and the actual death is only six feet of sod. And, if anything, the living death is the worst economically.
--Dr. Solomon S. Huebner, noted insurance educator and father of the CLU movement.
These are strong words, but unfortunately, they're very true. The following are actual words from a disability policy holder: "The doctors saved my husband's life physically, but the disability benefits saved him financially." This eloquently sums up the essence of disability income insurance - disability insurance benefits save people's lives financially.
When you become too sick or hurt to work, your role shifts from being a producer of income to being a consumer and a dependent. The loss of income due to disability can be devastating to the family structure, both economically and emotionally. When a disability strikes, your income stream declines or stops altogether. Yet, normal expenses, such as mortgage payments, car payments, and utility bills continue. In addition, other expenses tend to increase - medical bills and additional transportation expenses.