18 May May is Disability Insurance Awareness Month
This is an excellent time to remind everyone of the issue of disability and the exposure all of us have.
Think you have the answers? Check out this link to the Council for Disability Awareness Quiz.
Your ability to earn an income is likely your most valuable asset. Most people insure their homes, cars, even their jewelry but not their income that makes it all possible.
Disability insurance can pay your income when you’re unable to earn a living. Many years ago it was explained to me this way (and it’s still the best illustration I have):
You are offered two jobs:
Job #1: We will pay you $100,000 per year. If you’re disabled and unable to work your income would stop completely.
Job #2: We will pay you $98,000 per year. BUT, if you become disabled and unable to work you could receive 60% of your income (tax free) until you return to work or turn age 65 (in some cases for life).
Which option do you choose?
If you do not have long term disability coverage we encourage you to check it out.