Updated: Sep 11, 2021
For most people your paycheck from your job is critical to your household. That was income pays the bills and hopefully makes your family comfortable. If that income should stop due to injury or illness, what’s your plan?
Many people don’t have an immediate answer for that. Your car is insured, your home is insured, and yet the most important asset to your household isn’t ... that’s you!
What is Disability Insurance?
Disability insurance is an agreement made between insurance companies and policyholders. In exchange for the monthly payments you make, the insurance company agrees to pay you a monthly benefit amount if you suffer a disability that affects your ability to work.
Summarized, Disability insurance is financial protection for your most valuable asset — the ability to work and earn a living.
Many people think that their home or their investment portfolio is their biggest asset. For the majority, it’s their earning potential that is usually their most important asset. Your earnings typically fuel everything else. Everything from paying your mortgage to saving for a child’s college education depends on your ability to earn money from your job. The lost income from a serious illness or injury that prevents you from working can be substantial.
So think about what the short or long term loss of income would do to you, and your family’s lifestyle.
The income from your disability insurance could be the answer to that question, “what’s your plan?”
Contact us today via the button below to set up a review of your specific situation.