Are you prepared if you became disabled for 1, 2, 6 months or longer?

Chances are 3 out of 10*who are entering the workforce will become disabled before they turn 65. Just think, to be disabled and not able to perform the duties of your occupation. Whether you are disabled 2 weeks, 4 months or 30 years you better be prepared. The largest reason for mortgage foreclosures is the result of the income earner’s disability. For many people losing just one week of wages can be tough, and disability from either an illness or accident for a longer term can be devastating. In New York State, statutory disability only pays 50% of wages for 26 weeks to a maximum weekly benefit of only $170. Could you continue to pay your bills, feed your family, make car loans, pay the mortgage or rent, make tuition payments without dipping into savings? Are your savings as high as it used to be? Disability income insurance is all about guarantees…The guarantee that if you become disabled from an accident or sickness that money will be there to protect your family with food, clothing, mortgage, utilities, school expenses etc. Business disability Income guarantees to pay your businesses’ payroll, rent, loans, insurance and continuing business expenses. I’ve never met anyone who has been disabled that said they had enough disability income insurance. Many people are insured through their employers, but only for a portion of their wages. Some employer sponsored group contracts don’t consider overtime, bonuses, or commissions as wages. Some contracts can cover your contribution to the company’s retirement plan, most plans don’t. This website is to educate you as to the many features of disability income insurance, and to enable you to make informed decisions about purchasing disability income insurance.

Source: Social Security Administration, Fact Sheet, January 31, 2007
              National Safety Council, Injury Facts 2008 Ed.

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