In simple terms, it is a contract used to protect a person's most valuable asset, their earning potential.
Odds are, you probably won't need this type of coverage.
The Real Impact!
We believe it is crucial to consider the real impact. Becoming disabled is often a life-changing event that has a devastating impact on you and your loved ones — many may be unable to keep financial promises due to the disability.
Give these questions some thought: If you become disabled, how might that impact your spouse and children? How might that impact your ability to meet financial commitments? How does that impact your family emotionally and physically?
Likelihood of Disability
As indicated above the odds are in your favor. Only 1 in 5 males (20%) aged 35 and older in the U.S. will be unable to work for a period of 90 days or more due to a disability before reaching retirement. For females the odds are a little worse at 33%, or 1 in 3*.
*Information compiled by the National Association of Insurance Commissioners (NAIC).
The Lasting Effects…
If the primary provider of income in a home becomes permanently disabled, the effect will spill further than just 90 days or a year. A person aged 40 stricken by disability could miss out on approximately 25 years worth of annual income.
Prevent and Protect
As you can see a permanent disability has devastating consequences. If you are like me, you are saying to yourself, "I'm in great shape and will never be disabled." And that is true today, but what if it isn't tomorrow? Please reach out to us to see what it would cost to protect your earning potential.