Paycheck Protection for You, Your Family, and Your Financial Security!
Paycheck Protection? Imagine for a moment, that you were injured or suffered a severe illness that prevents you from working for say a couple of years.
Do you feel comfortable with the potential help the government will provide? Here are the facts from the Social Security Administration.
Do you have adequate savings or additional income to weather the financial storm of additional medical bills and lost income?
Would you be able to maintain your current lifestyle if you had to stop working to battle cancer?
Would a tremor in your hand, reduce your earning potential.
Would a back injury mean your kids would have to postpone their college education?
Do these questions cause even the slightest concern for you?
If they do, then here’s how you can close the gap before it’s too late.
Know the facts
Statistics show the chance of having a disabling illness or injury is surprisingly high. The Social Security Administration says that a 20-year-old has a more than one-in-four chance of becoming disabled before reaching retirement age. At age 32, the chance of being disabled for three months or longer is 6.5 times greater than the chance of death, according to the National Association of Insurance Commissioners. And it’s no secret – a disability can lead to financial devastation. Between being unable to work and accumulating medical bills, many people can’t cope. According to the Council of Disability Awareness, a study found that medical bills, lost jobs and illness or injury (self or family member) were the primary causes of consumer bankruptcy.
Many people assume they’re adequately covered by Social Security or employer-paid long-term disability (LTD) plans. Not true. The income from these plans is usually taxed and many don’t qualify for Social Security. The reality? Even with an employer-paid LTD plan, many disabled people are left with income gaps as wide as 72 percent! Can you imagine surviving on 28 percent of your income?
Understand Your Risk
Paycheck Protection is the most important thing we can offer my clients. It’s the foundation for sound financial planning. If we don’t start by protecting the basic paycheck, there will be no home or vehicles to insure! Many clients perceive that disability insurance is expensive, but I can show you that Paycheck Protection is more affordable than most other types of insurance.
Paycheck Protection provided by Disability Insurance isn’t just for doctors. There are plans for all types of working people, from blue-collar to white-collar, from doctors to engineers, for low-risk to high-risk occupations, and even for the medically impaired who mistakenly believe that they can’t qualify for coverage due to chronic illness.
If you would like more information about protecting your income, complete and submit the form below.
