Protecting Your Most Valuable Asset
Ask yourself
this important question: Is my most valuable asset as well-protected as my
other assets?
Most of us
would probably agree that our ability to earn an income is one of our most
important assets. An income provides us with the means to purchase basic
necessities as well as the means to help fulfill our dreams and build a
foundation for future plans. As long as you have the ability to earn an
income, you are able to accumulate assets and provide for your family. But
what would happen if you became disabled?
Halfway Measures
Most
alternatives to replacing lost income are only halfway measures.
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Can you rely only on Social Security?
Qualifying for Social Security benefits is very difficult because the
disability must prevent you from doing any kind of work—not just your
usual job. The definition of disability for Social Security states that
one must be completely disabled with no hope of recovery for a period of
at least one year, or have a disability expected to end in death.
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Can You Rely only on Workers Compensation?
Workers Compensation only covers job-related sickness or injury. In
addition, these benefits may be limited.
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Can You Rely only on Your Savings?
If you saved just 5 percent of your income each year, a 6-month disability
could wipe out 10 years of savings, and when savings are gone your other
assets would also begin to dwindle. Would family or friends be willing to
help you when your savings are depleted?
The Sure Thing
The sure thing is to protect your most
valuable asset—your ability to earn an income for yourself, your family,
and your business. A quality individual disability income protection
policy can help meet your needs today and into the future.
Source: Most recent Insurance Commissioner’s
Individual Disability Tables (1985).
