Don’t think you need disability insurance? Well, you probably do. One in 3 working adults will experience a disabling injury or illness lasting longer than 90 days. Considering that the odds that your house will burn down is 1 in 100, and you probably have an adequate amount of homeowner’s insurance, isn’t it time to protect your paycheck in case you can’t work due to a disability?
In this article, we discuss the 5 reasons you need disability insurance.`
Simply put, if you will have trouble paying your bills upon a disability, you probably need disability insurance.
Here Are The Top 5 Reasons You Need Disability Insurance
Money Is One Less Thing To Worry About
If you can’t work, the bills can’t get paid. What do you do then? You don’t know? What kind of answer is that? Do you want to worry? Of course not! As a result, a disability income insurance policy with appropriate coverage will take care of that stress. Moreover, think of it as “plan B”. It is designed to provide you an income while you deal with your disability.
Your and Your Family’s Future Intact
Remember that spare tire / tow truck analogy? You and your family are planning for something – living your life to enjoy it, make memories, and retire. What stops if you don’t have a disability policy? Additionally, if you are disabled for an extended period? I’ll tell you what stops – 401(k) and other retirement contributions and savings. What do you withdraw to make ends meet? You guessed it – your 401(k), your IRA, and your savings.
Moreover, you are stopping your future from even happening! How does that make you feel? A properly structured disability income insurance policy will keep those dreams and future intact.
Don’t Be Selfish To Your Spouse
If you are the breadwinner of the family, what will happen upon your disability? What kind of affect does this have on your spouse? Talk about stress! He or she will likely have to work, work longer, or work several jobs to pay for medical bills, your care, or make ends meet. As a result, your life and finances will be squeezed. A disability income insurance policy will help your spouse from working multiple jobs to keep food on the table. Additionally, a disability insurance policy provides peace-of-mind.
Don’t forget: stay-at-home parents can obtain some level of disability insurance, up to $2,000 per month. That doesn’t seem like alot? Answer this for me. If your spouse is sick with cancer and can’t help with the kids, who will? That’s right. The disability benefit can help pay for help around the house.
Don’t Be Selfish To Your Children
You want the best for your children, right? How would your disability affect their future? Would you be able to save for their college? Would they be able to have the things you want them to have? Their futures may have to be diverted to survival mode if you did not have a disability insurance policy. Consequently, their success and future is directly dependent on you.
Staying On Your Financial Road
You have a lifestyle. A house. You have things. Without a disability income insurance policy, those might be gone. When the bills start coming in, savings start to deplete. The last thing you want is to give up those lifestyle choices you enjoy. With a properly structured policy, you can maintain your lifestyle.
What Does This All Mean?
Here at My Family Life Insurance, we understand the importance of a disability income insurance policy and can tailor a policy to your needs and goals. Feel free to call, text, or email us. We will be happy to help.