If You Don’t Plan For Possible Disability by Purchasing Long Term Disability Policy, You Will Hate Yourself Later

Do you know that, according to an article “Are You Counting On Savings When Disabled?” ( http://community-nasdaq.com/news/2010-08/areyoucountingonsaving) that:Disability Policies

  1. “Deaths due to heart disease, cancer and strokes have denied while disabilities disability cause by these conditions have sky rocketed.
  1. That a 35 year old has a 48% chance of having at least one disabling incident lasting longer that three months before reaching age 65.
  1. That 1 in 5 under that age of 65 will disabled for a year or longer.
  1. A 45 year-old experiencing a disability that lasts one year has a 70% chance that it will last at least one more year and that the same person has a 62% chance that it will last five years or longer.”

Unfortunately, only 9% of Americans have individual disability policies to protect their ability to work an earn income.

Many of us, think nothing about insuring our houses against fires, tornados, earthquakes or other catastrophic events. Unfortunately, many us don’t think about insuring ourselves.

If you are relying on savings, you may not have enough money to get you through an elimination period or even a claim denial.

At Cavey and Barrett, we suggest that you have a long term disability policy. You can get those from your employer, which typically cover 60% of your salary. Unfortunately, there are several disadvantages to employer sponsored programs including taxability and the fact that they are covered under the ERISA law.

Nancy Cavey, an individual disability policy denied attorney, suggests that the wiser course is to purchase an individual policy through an agent. Yes, of course, it will be more expensive than a group policy, but you are insuring yourself. Aren’t you, your family and your future earning capacity worth it?

For more information about the terms your do not want to see in your long term disability policy, you can order a free no obligation copy of the book Robbed of Your Peace of Mind on the right side of this page.

Be Sociable, Share!

Leave a Reply

meta_adtracking