Disability Insurance

Protection against loss of income due to illness or injury is actually the greatest risk you have.  People insure their cars and homes, their lives and their health but many times overlook insuring their greatest asset:  their income.  Why?  In many cases they think their employer covers them (most do not), they've never been told about the coverage, or they think it's just too expensive.  Well yes, it is expensive.  But consider the following example:

Male 35 earning $75,000 per year.  Earning potential to retirement age 67 is $2.4 million dollars (assuming no increase in income).  A disability income policy will cost $.02 - $.05 for every thousand dollars of income.  So in this case it may cost about $2,000 per year to insure $75,000 of income.    Statistically up to 40% of working Americans will miss some working time due to illness or injury.  Can you afford to live without income for 90 days or more? 

Disability insurance contracts are extremely complicated and there are significant differences between insurance carriers so it's imperative to buy one from an Independent Agent and Agency.  You can be assured that you will get the right policy for your exact occupation, that you won't be forced back to work before you are ready.

For more information on disability here's a useful link