- What is it?
If you get too sick or too hurt to work, you have bills that still must be paid, like mortgage/rent, food, car payments and utilities. This coverage provides you with a portion of your income to pay your bills while disabled.
- Why do I need it?
One in four twenty-yearolds will have a long term disability in their working lifetime. As you get older, the chances of a long-term disability increase. For most of us, our income is the base that allows us to do everything in our lives.
- If you are age 40, making $100,000/year, you will earn over $2.5 million in your working lifetime. We think to insure our homes and cars, but isn’t your income a much lager asset? Doesn’t it make sense to insure it too?
- What does it cost?
Roughly 2% of your income. Pricing varies by:
- Age & Gender
- What you do for a living
- How long after you’re disabled before benefit start and then how long are they payable.
- Isn’t this kind of expensive?
Yes, but consider it this way – which job would you prefer?
Job A pays you a salary of $100,000 when you are working and $0 if you are too sick or hurt to work.
Or
Job B pays you a salary of $98,000 when you are working and $60,000 tax-free if you are too sick or hurt to work.
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