Top Five Reasons for Disability Income Protection

#5 Reason:
Maintain Your Lifestyle
When a disabled person's average living expenses totals more than $200,000 per year, savings accounts don't last long. And, bills keep piling up. Your income decreases and your expenses increase when you suffer a debilitating illness or injury. When life throws you a curveball, the last thing you want to think about is downsizing or cutting back. However, with a solid income protection policy in place, you will be able to keep your current lifestyle.

#4 Reason:
Ensure Your Future
The first contribution you stop making when you become disabled is to your 401K. If that happens, forget about a comfortable retirement. Without that retirement money, you and your loved ones will continue to struggle for years to make ends meet. You don't need to sacrifice your retirement dreams. With disability income insurance, paycheck protection is affordable and achievable.

#3 Reason:
Secure Your Children's Success
If you can't make meet your monthly expenses and pay your medical bills, how are you going to save for your children's future? In the wake of disability, saving for college often falls to the wayside. If there is no safety net in place, your only concern will be financial survival every day, not saving for the future. You can keep your children on the debt-free college-track with a solid disability insurance policy.

#2 Reason:
Safeguard Your Spouse
If you are the breadwinner of your family, you need to protect your paycheck. If you suffer a disability and can no longer work, your partner will likely need to work longer and harder to replace your income and cover medical bills. However, if you have disability income insurance, you can keep the bread on the table and prevent your partner from having to work multiple jobs.

#1 Reason:
Preserve Your Confidence
Getting injured is stressful. Not working is stressful. Mounting piles of bills are stressful. When you are injured, extreme stress can lead to slower recovery times and cause depression. If you are already suffering physical distress, you don't need the mental anguish the lack of income causes. You can avoid that pain and instill a sense of confidence with a solid income protection policy. With stress out of the picture, you'll be back to work in no time!

 Anyone who works for an income needs paycheck protection and should consider getting a disability insurance plan.  We can help.

Principal just released its new Business Owner Market Study, "A Balancing Act - Priorities vs. Plan." The report showed that business owners rank business protection as their highest priority, and income protection as their third highest priority.

More surprising is that despite the high level of interest, many have not taken action to put protections in place. Only one in four business owners - 24 percent - has an individual disability insurance (IDI) policy, fewer than 1 in 10 (9 percent) of business owners have key person disability insurance, and fewer than 1 in 20 (4 percent) have a disability overhead expense plan in place.

What does this mean to you?
We know that business and income protection are issues keeping business owners awake at night. We also know they're failing to take the next step - probably due to lack of knowledge or fear of affordability.

How do you protect your business?

Key Person Life Insurance is insurance on the life of a key employee to help reimburse an employer for the economic loss
caused by the death of the employee.

Key Person Disability Insurance is an individual disability insurance policy designed to provide business owners
with the funds necessary to compensate for the loss of a key employee due to a total disability.

Disability Overhead Expense Insurance reimburses an owner for covered overhead expenses up to a specified amount when a disability occurs.
 
Download a free copy of the report, and then contact us for facts and information about ways to protect your business.