How Disability Insurance Coverage Meets Many Needs

How Disability Insurance Coverage Meets Many Needs

How disability insurance coverage meets many needs. Learn how disability insurance meets the needs of four families, each at a different stage in life. They have different needs, different incomes, different goals and different opportunities. Yet each family can benefit now by working with – and by making educated decisions about their income protection needs.

Singles – with no spousal income to fall back on, they may have the greatest need for income protection

Some people are single by choice. Others have lost a spouse, either through death or divorce. Many are single parents. Some are empty nesters. But all share a common concern. Since they have only one income to rely on, they have an even greater need to protect their income and their ability to save for retirement in the event of a disability.

If you’re single, there’s no better time than now to make a complete review of your financial situation, including short-term goals, insurance policies, savings and investments. Make sure you’re taking full advantage of your benefits at work. Compare your possible resources with current monthly expenses. The How Much Disability Insurance Do I Need will guide you through this process.

The Youngs – they are a new family and think they can’t afford to get started.

The Youngs might be surprised to discover how little they need to set aside each month to achieve and protect their long-term financial goals. Premium rates for disability income insurance are usually lower for policies purchased at younger ages. So the Youngs can purchase a small, affordable policy now. Then later, as their income grows, they may be able to adjust their policy to increase coverage.

Contrary to popular belief, the Youngs shouldn’t have to give up something to protect their income. Quite often, extra cash can be created simply by reviewing and improving personal money management habits. Are they paying too much for their mortgage or their home and auto insurance, dining out too often? Are they paying the lowest possible rate on their credit cards? Think about it. How much extra money could you create, each month, if you were able to find simple expense-saving opportunities?

The Up-and-comers – the kids are growing fast (and so are their careers).
  • As your family and careers grow, so should your plan for financial security. Ask yourself the following questions!
  • Are you taking full advantage of your benefits at work?
  • Are you setting aside a portion of your growing income to help protect your future income?
  • As you buy larger homes, accumulate greater assets and dream bigger dreams, are you taking steps to protect your family and assets should you or your spouse become to sick or hurt to work?
  • Are the policies you bought years ago still adequate?
  • Have you thought about how a disability could impact your ability to save for retirement?

Use the children’s preschool and grade school years to build your financial security foundation. Ask your representative how to create affordable base levels of protection.

As children grow older (and you begin to enter your peak earning years), the thoughts of most parents turn to empty-nesting and retirement. This is a time when income protection is often essential to help ensure you will not have to spend your retirement savings because of a disability.

The 40-somethings – the kids are teenagers and peak earning years lie just ahead.

The next 20-some years are likely to be the most busy and exciting years of your lives. They are the years when your income is likely to be highest. You’ll be able to afford traveling with your family to the places you’ve always wanted to see. It’s when you’ll want to take up new hobbies, start thinking about grandkids and more. The next 20 years will also be critical years for building your retirement savings.

That’s why it’s even more important to protect your income now. By doing that, you’ll be protecting the lifestyle you’ve worked so hard to achieve. You’ll be helping to make sure your dreams come true no matter what life brings. is here to help you. Whether you have general questions regarding disability insurance, interested in the cost or need to review your current disability insurance coverage, we are here to help you! Since 1971 we have been working with individuals to find the best coverage at the best price to fit their needs.

Contact us today to learn how we can help protect your financial future from a disability.

How Disability Insurance Coverage Meets Many Needs


Learn More: How Much Disability Insurance Calculator