Life & Disability Program
Did you know that overall, you are more likely to become disabled during your lifetime than die? Are you prepared to handle a short or long period where you can no longer work but are expected to pay all your current bills? Sadly, over 70% of working Americans do not have enough savings to meet these types of emergencies. Combine the fact from the Federal Reserve that 44% of US Families spend more than they earn, with the negative savings rate for the average American family and it’s the perfect mix for financial disaster.
Think about your current situation and what would happen if you could not work for a short period of time - how would you replace your income? Pay your mortgage or rent? Buy groceries? Make car payments? Pay for childcare? Truth be told, the reality is that a disability has the potential to financially devastate many Americans. Recent studies have shown that unexpected illnesses and injuries cause 350,000 personal bankruptcies each year.
With some planning, there is light at the end of the tunnel, as there is a way to protect yourself and your family in the event of a disability – short and/or long-term disability insurance. While disability insurance plans come in all shapes and sizes. for groups and individuals, the purpose is simple: to provide a level of income replacement during a time of disability.
Don’t take the chance that it won’t happen to you. You insure your car, your home, your valuables - why not your “income”? Aside from health insurance and retirement plans, short and long-term disability insurance is one of the most valuable benefits an employer can offer to their employees.
For questions or further information contact:
Jon Papp, Lincoln FinancialPh: (574) 231-6514 Christine Munoz, Big "I" Markets
Ph: (703) 706-5466