Consider the many expenses covered by the money you bring in. It is a rather long list. There are the basics, such as having a place to live, food, and reliable means of transportation. You also spend on things that make life enjoyable and memorable, such as going on vacation, having dinner with friends, and going to the movies with others. Your ability to make money and the amount you bring in will be the foundation for all your other aspirations. It would be best if you safeguarded that foundation. Both your home and your car are covered by insurance. Why wouldn’t you protect the very thing that helps you afford these expenses, which is your ability to produce an income?
What’s the Importance of Disability Insurance?
If you have a family to support, you want to be sure that if the unexpected happens, you’ll be protected. Disability income insurance products can help you plan for the unexpected and help protect you and your family financially.
Income protection is designed to protect your income if an injury or illness prevents you from working. It can help to replace some of your income while you are recovering and ensure that you do not fall into debt or get left without any means to support yourself. If you get injured or become ill, it can stop you from working and earning. Knowing that your family will still have a way to make ends meet is a huge relief. It’s essential to have the right amount of coverage for your situation in case you’re unable to work for an extended period or have a disability that prevents you from working.
How Can It Protect You?
Many fear protecting their income because they feel it will limit their earning ability. But if you’re not protecting your income, what are you protecting? You might be safeguarding your ability to spend it, but if you don’t have the income to spend in the first place, then what’s the point? If you lose your ability to produce an income, everything else becomes much more difficult. You must pay the expenses of life somehow. If you’re not earning an income, someone has to support you, and that someone is likely yourself.
You’ve worked hard to build your career and don’t want an accident or illness to ruin it. But what happens if you get hurt or sick? How will that affect your ability to work? If you can’t work for an extended period because of an accident or illness, how will you be able to afford all those things? What if it takes months for doctors to figure out what’s wrong with you? That’s where income protection comes in. There are approximately 69.1 million Americans who received disability benefits last 2019. Disability Insurance plays a role in ensuring your future safety when you cannot produce an income.
Get the help you need in finding the right plan for your needs and budget, whether it’s a short-term policy that provides monthly payments during recovery or long-term coverage that replaces lost income over many years. Contact us and get quoted to find the best plan for you!