Your greatest asset is your ability to show up to work and earn an income. Your income pays for your bills, your lifestyle, and even your future. Your income drives your entire financial livelihood and without it, what would you do? Disability Insurance helps replace your income during times of injury or illness that prevent you from being able to work. But not all disability insurance is created equally (read our advisor articles to learn more). In fact, disability insurance can be VERY complex and difficult to compare between companies.
Did you know?
When a disabling injury or illness occurs, the first thing that usually goes to the wayside is your retirement savings. The recommended contribution to retirement can be anywhere between 10-20% (consult your advisor). This may include your own contributions or contributions by your employer through a 401(k) matching program or the like. Disability Retirement Protection can help replace what you and your employer were contributing to your retirement prior to disability so that you can stay on track with your planned retirement and prevent having to delay your Golden Years.
1 Council for Disability Awareness- http://www.disabilitycanhappen.org/chances_disability
2 Office of The Assistant Secretary for Planning and Evaluation - http://aspe.hhs.gov/poverty/14poverty.cfm