DISABILITY INSURANCE – The insurance that works for you when you can’t.
What is disability insurance?
Insurance to protect your income should you become disabled through an accident or illness and are unable to earn a living.
Why is it so important?
Often we take our health for granted. We feel that we have enough saved for a rainy day; or feel that we should be okay because we’ve been paying into the Social Security system for years. However statistics have found:
* There is a three in 10 chance of becoming disabled for 90 days or more during your working years.
Source: The Real Risk of Disability in the United States, Millman Inc. on behalf of the LIFE Foundation, 2007.
* Half of working Americans say they couldn’t make it a month without a paycheck before financial difficulties would set in, and 1 in 4 would have difficulties immediately.
Source: The Disability Survey, Kelton Research on behalf of the LIFE Foundation, 2009.
* And if you were thinking of relying on your Social Security benefits – Nearly half of those that apply for Social Security disability benefits are initially denied, and those that are approved receive an average monthly payment of $1,063, which is barely above the poverty line.
Source: The Real Risk of Disability in the United States, Millman, Inc. on behalf of the LIFE Foundation, 2007.
What questions should I ask myself to know if disability insurance is right for me?
* How long would my savings last if I was unable to work?
* How would I support myself if I were unable to work for an extended period of time?
* What is the state of my health currently? Answer honestly.
If you answered not long or I’m not sure or it could be better then you are a likely candidate for disability insurance.
WIC in partnership with Coronado Financial Group and The Standard Insurance is offering WIC members a 10% discount on disability insurance plus gender neutral rates for a total discount of up to 40%. Contact Leslie Smith for questions or details 650-571-8132 info@coronadoadvisors.com
If you would like to get more information about whether disability insurance is right for you, contact Leslie Smith @ 650-571-8132
Written by Sue Hay of bewhysmarketing and Leslie Smith of Coronado Adviser
