let disability or critical illness destroy your lifestyle.
Your ability to work
is your most valuable asset. Every day you get up and go to work to support
your lifestyle and provide for yourself and your family.
However, ask yourself this - what would happen if one day you lost your
ability to earn an income because of injury or sickness? Life wouldn't
be all that simple anymore.
are the odds?
If you're like most,
you assume that disability will never happen. It's something that happens
to others - never to you. Look again!
an average year, here are the odds of:
||1 in 117 people
||1 in 219 homes
||1 in 18 cars
is involved in a serious accident
||1 in 14 people
The probability of
disability is higher than you might expect...
...and it can last a long time.
chances of disability lasting 90 days or longer before age 65
financial realities of a long-term disability:
Less money coming
in, more going out - a dangerous combination of events. Your income plummets
because you cannot work, and your expense grow because now, in addition
to everyday costs of living, you must also cover medical expenses and
other bills related directly to the disability itself.
A disability can be
financially draining over the long haul. Even at your present income -
without factoring in raises or bonuses - think about how much money you'd
lose if you suffered a disability that lasted until you were 65.
for replacing lost income:
There really aren't
many ways to replace the income you lose when you became disabled. This
table presents a few ideas, observations and key questions raised by each.
How comfortable are you with these options?
||It takes long
time to build up a significant savings reserve.
||How quickly would
your savings be depleted if you had to live off them?
||Some have value
beyond their monetary worth.
||Would you get
full value for them?
Could you ever replace them?
always easy - or possible.
||Would you qualify?
How and when could you pay back a loan?
household sources of income
income will have to suffice.
||Could you maintain
your family's lifestyle?
What about emotional burden?
Pension Plan Disability Benefit
||To qualify, you
must sustain a severe and indefinite mental or physical disability
and be unable to work at any occupation.
||Would you be
among the applicants who never collect a cent?
Long-Term Disability Insurance
||A good start,
but if you are highly compensated, it may not cover enough of your
||Will your policy
replace enough income, and for a long time period, to ensure your
option that gives you the control, peace of mind and comprehensive
protection you and your family deserve.
||What are you
what you can expect to earn by age 65: