How long could you sustain your present lifestyle if your paycheck stopped due to disability? If you’re like most Americans, your answer is probably “six months or less.” So why haven’t you secured paycheck protection? Most Americans insure their homes and their vehicles, but forget to insure their paychecks.
Yet, without a paycheck, homes, vehicles and other basic elements of living become unaffordable. Likewise, many Americans remember to buy life insurance to provide for their loved ones in the event of death, but they forget to secure paycheck protection to provide for their loved ones in the event of disability. These are critical financial planning mistakes.
Did you know…
- 1 in 8 people suffer disability each year?
- One in three Americans between ages 35 and 65 will become disabled for more than 90 days
- Disability is the leading cause of personal bankruptcy and foreclosure?
- 75 percent of disabilities are caused by illnesses, such as cancer or heart disease, rather than accidents?
Don’t make the most common and critical mistake in financial planning! Now that you know the facts, can you afford to go without paycheck protection?
Why Disability Insurance
Simply put, individual disability insurance protects your income. An individual DI policy pays a percentage of your salary if you become disabled. Disability insurance policies are customized to meet your needs. You choose:
- The amount of coverage (The percentage of your income that the policy will pay)
- The length of coverage (How long benefits will continue)
- The elimination (waiting) period (How soon benefits will start)
This coverage is essential if your employer does not offer disability insurance. Employer-provided plans are often limited and they usually don’t travel with you when you change jobs. Therefore, it’s also smart to secure individual protection to supplement any coverage that you receive at work.
Don’t wait another day to help protect your most important assets with individual Disability Insurance. Request a disability insurance quote today by contacting us.