How long could you afford to go without a paycheck before it would be difficult to pay for everyday living expenses?
It’s no fun to think about what life would look like should disability strike but the harsh reality is that one third of all Americans between the ages 35 and 65 will become disabled for more than 90 days, according to the American Council of Life Insurers. One in seven workers will be disabled for more than five years! Many people think disabilities are usually caused by freak accidents but the majority of long-term absences are due to illnesses, such as cancer, heart disease and others. The loss of income can be so devastating that it forces some people to foreclose on their home or even declare bankruptcy.
Do you have insurance on your house, cars and other belongings? Did you overlook protecting your most essential asset: your ability to generate an income?
Disability benefits can replace part of your income so you can focus on recovery instead of worrying about your ability to pay the bills. It can supplement long-term disability benefits and cover other income like commissions and bonuses that may not otherwise be covered. Even with some coverage through employers many people find it may not be enough for the reality of tomorrow’s costs and needs to be supplemented. If you don’t have coverage through work, or you’re not sure if the coverage you have is sufficient, contact us to learn how we can help protect your income.