Disability Income Insurance
by: Diana L. Yuhas, LUTCF, Yuhas & Associates
DREAMING ABOUT RETIREMENT?
Thinking about the places you will travel, the hobbies you will take up, and how you will spend your time once you retire?
Chances are, you have already started saving for retirement. But what would happen to your retirement plans if you suffer a disabling illness or injury and could not work? Would you be able to continue your contributions without your income?
For everything it provides today – and is hoped to provide in the future – your ability to work and earn an income is your most valuable asset.
If you suddenly lost your income due to sickness or accident, would you be able to pay your bills or save for your retirement?
You may think the odds are one in a million that it could ever happen to you. However, the statistics tell a different story. At age 35, 4 out of 10 people will experience a disability lasting at least three months. At age 45, the statistics are not much better.
Disability – more common than you may think.
Consider the following startling statistics:
- If you are under age 35, chances are one in three that you will be disabled
for at least six months during the course or your career.
- Men have a 43% chance of becoming seriously disabled during their working
years; women have a 54% chance.
- At age 42, it is four times more likely that you will become seriously disabled
than that you will due during your working years.
Because the odds are so great that you could become disabled at some point, it is important to have a backup plan in place – a layer of protection for the retirement nest egg you have worked so hard to create.
The truth is, you are more likely to be disabled than to die during your working years. This probably is not what you want to hear while you are healthy and earning a good income. But what happens if you become disabled and lose that income? Your income goes down while your expenses (including unanticipated medical bills) typically go up.
If you are still not convinced, see for yourself just how much you stand to lose. A 35-year-old earning $2,200 per month until age 65 will earn $792,000 ($2,200 x 12 months x 30 years). Yet when you consider salary increases of 4% annually, actual salary is $1,480,642. Isn’t that worth preserving?
There is a solution
- A DISABILITY INCOME INSURANCE POLICY TO PROTECT YOUR INCOME PLUS YOUR RETIREMENT SAVINGS.
Please call for a quote or direct any questions to: Diana L. Yuhas, LUTCF
at 1-800-565-2010 or
724-832-0535.