Disability Income Insurance

When you are disabled, would you prefer a check or a get-well card?

Let’s keep this simple. Which job do you prefer?

The Odds
-The chance of using your homeowners insurance - 1 in 20
-The chance of using your auto insurance - 1 in 15
-The chance of missing at least 90 days of work due to a disability - 1 in 3

Home Foreclosure
Nearly 50 percent (one of every two) of mortgage foreclosures are caused by disability. Only two percent of foreclosures are due to death.

What about Workers Compensation?
Only 3.9 percent of illnesses and injuries happened while on-the-job.

What about Social Security Disability Insurance?
In 2005, Government Disability Insurance denied 60 percent of 2.1 million people who applied for Social Security Disability Insurance. The average wait for benefits is 18 months. If you are approved, SSDI benefits alone may still leave you below the Federal Poverty Level.

What if my employer pays for my Group Disability Insurance?
Can you handle a 30% cut in pay? Benefits from employer paid group disability income insurance is taxable, and generally limited to around 66% of salary. Benefits from personal insurance are income tax-free. If you want to know more, click on The Group Myth.

Considering that ONE OUT OF THREE people will miss 90 days or more, due to sickness or injury, this year, which coverage do you think is more important: Auto, homeowners, or disability insurance?

The purchase of disability income insurance is a serious decision, with significant financial implications for your situation. That is why it is always a good idea to use a professional insurance agent when purchasing disability income insurance. The best choice is an insurance agent that has earned the professional designation, Chartered Life Underwriter.

Other Resources

• What is your PDQ? Personal Disability Quotient
• Council for Disability Awareness
• yourincomeatrisk.org
• Social Security Disability
• Workers Compensation

For a FREE initial consultation, call today: (800) 680-5596

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