This is an area of risk most people don’t consider. We know about health insurance because no one wants to pay for expensive medical procedures. We know about life insurance because everyone is going to die someday (although most people do not carry enough to truly protect their loved ones, but that is a topic for a different day). We know about auto and homeowners insurance because we want to protect our assets. But most people do nothing to protect their biggest asset – the ability to earn a paycheck.
Imagine you are in an accident and suffer a traumatic brain injury that limits your ability to work – whether in your current job or any job. How does your mortgage get paid? How do you provide for your family? If you had died, life insurance would provide some financial help for your family. Social Security disability payments may provide some relief but it will be a process to qualify for benefits and it won’t replace your paycheck.
Disability insurance can be designed to fit any number of scenarios to insure your paycheck continues even if you can’t work. Benefits can be for short term or long term needs. They can also be designed to pay if you can’t work in your chosen occupation or any occupation. This flexibility means the protection can be scaled up or down to fit your budget.
Think it won’t happen to you? Think about all the people you know or have had some contact with over the years. Odds are that some of them have had a disability event in their lives, either short term or long term. How did they weather the storm?
Contact us to find out how we can help you.