[dropcap1]H[/dropcap1]ow would you like to stay at home and get paid all the way through age 65 while you attempt to recover from an unforeseen accident or illness that precludes you from working in the job you were trained for?* And now it may suddenly dawn on you: “Who is going to pay me through my retirement age if something did happen?” It’s called Disability Insurance. And you might want to start thinking in terms of whether you can afford NOT to have it.
Since I only like to write and prognosticate based on fact, here’s a glaring fact published on February 7, 2013 by the Social Security Administration:
“Just over 1 in 4 of today’s 20-year olds will become disabled before they retire.”
Compared to all the other risks we take every day, this fact should make the average worker want to wrap themselves in bubble wrap before leaving the house each morning!
May is disability insurance awareness month. No, it’s not like Disability Insurance policies go on sale with red balloons tied to them during the month. Rather, it’s a campaign put on and supported by the LIFE Foundation for the month of May. You see, unless you are already in a situation where these things matter, people generally don’t like to think about the negative aspects in life…like the dentist, retirement homes, wheel chairs, taxes, burial plots, dentures, hospitals, etc.
My job as a financial planner is to help my clients achieve their goals. And to achieve their goals, my clients are typically counting on their income as a primary funding source to get there. In conducting a thorough assessment on my clients, I MUST bring real solutions for the unforeseen events that may turn one of them into a victim of statistics.
Watch this two-minute video describing the importance of why you should consider this form of insurance to protect you AND your family. If you feel inadequately prepared, call my office to discuss a solution for you. Disability Insurance is more affordable than you think!
*Typical disability insurance policies can replace up to 60% of your gross income—and that income is typically received tax-free. This could reflect a nearly 80% dollar-for-dollar of real income replacement.