Does Your Lifestyle Depend on Your Income?
Your ability to work and earn a living may be your most valuable asset. When you
stop working, so does your income. Would you be able to maintain your current standard of
living if you were too sick or hurt to work? Most likely not. Few people have adequate
savings to support themselves in the event their income stops for a prolonged period of
time.
Your chances of becoming disabled prior to age 65 are higher than you'd expect. Just look
at the statistics:
Chances of Experiencing a Disability that lasts 90 days or longer
| Age | Probability |
| 25 | 44% |
| 35 | 41% |
| 45 | 36% |
| 55 | 27% |
(1985 Commissioners Individual Disability Table B)
And if a disability has lasted one year, the chances of it lasting longer are even greater.
Chances of a Disability Lasting more than one year
| Age | 1+ Years | 2+ Years | 5+ Years |
| 25 | 67% | 57% | 47% |
| 35 | 76% | 67% | 57% |
| 45 | 79% | 72% | 62% |
| 55 | 81% | 73% | 62% |
(1985 Commissioners Individual Disability Table B)
If you think Workers' Compensation or Social
Security will take care of you when you're disabled, you may be in for a shock. Workers'
Compensation only covers those diseases and injuries suffered on the job or related to
your work. For Social Security to pay, you must be unable to perform any substantial
gainful activity, with your disability expected to last at least a year or result in
death.
A logical solution to this problem is to buy individual disability income insurance.
Individual disability income insurance prepares you for the unexpected and protects your
income when you're disabled and can't work. Here are just a few of the thing to look for
in a disability income policies:
Non-cancelable, guaranteed renewable coverage: The Company can not cancel your policy for any reason other than non-payment of premium, and your premium rates are guaranteed never to increase unless you request an increase in your coverage.
Coverage for total and partial disabilities: If you are unable to perform the substantial and material duties of your regular occupation and are under a doctor's care and choose not to work in any other occupation, you are considered totally disabled. But you don't have to be totally disabled to receive benefits. Having an injury or sickness which restricts your ability to work and results in a loss of income of at least 20 percent will qualify you for benefits proportionate to your loss of income.*
Adjustability:You have the flexibility to change your policy to meet your changing needs (some changes require evidence of medical insurability).
Future insurability: You have the opportunity to increase your coverage annually or every three years without proving medical insurability. This helps keep your disability protection in line with your rising income.
* Not applicable for all occupations.
Don't leave your most valuable asset unprotected. Take this opportunity to get the
protection you need (with a Disability Income policy)!
