At age 39, John was living the dream. He was married with 2 healthy children and had his own small business paying himself well over six figures. But one day, John started feeling uneasy about his life and all the pressures on him.
He tried to be strong and didn’t seek professional help in dealing with his issues. Over the next two years, John’s anxiety grew into full depression. His wife found him in their back yard with a gun in his hand, contemplating suicide. She was able to talk him in to admitting himself to the psychiatric unit at their hospital.
After months of treatment, John was no longer a danger to himself, but he could never face the pressures of his old job. His father was a large animal vet, and John was able to work for him, exercising horses. The problem was that this was a minimum wage job, paying him a fraction of what he used to earn, not nearly enough to meet all his financial obligations.
Fortunately, John had the foresight to purchase individual disability income protection years before he became ill. He had a tax free monthly benefit of $10,000 with no limitations on how long benefits were payable for mental & nervous conditions.
John’s story is far from a perfect ending, but thanks to his disability benefits, financial pressures were not a worry. John and his wife ended up divorcing in an amicable split, and he was able to pay for his ex-wife to maintain her lifestyle. He was able to send both his children to college. And he feels good about himself because he is working, albeit in a low paying job.
So when you consider income protection, be sure you know what your benefits are for mental & nervous conditions. John never thought his life would turn out this way, but he sure is grateful he had the coverage.