Before Disability Occurs - Disability Insurance

Many people are self employed or work for small employers that are not of sufficient size to offer employee group benefit plans. Many self-employed individuals could actually be sole proprietors of their own entrepreneurial businesses. Invariably, loss of time due to disability for these individuals would be catastrophic in more ways than one.

With the chance of being disabled 90 days or longer at least once before age 65 being as high as 1 in 3; disability insurance protection is a must.

Coverage is not particularly cheap because the statistical odds are so high that a disability will occur. However, one way we try and get the point across at Transitions Wealth Strategies is as follows ... if you had a choice of two jobs; one job would pay you $35,000 a year while working and nothing if you were off work; one job would pay you $34,000 a year while working and $24,000 a year tax free if you were disabled. Which job would you take ... put in these terms the benefit of having disability insurance is quite obvious.

We religiously purchase insurance for our homes and cars but seem to have an aversion to insure something much more valuable ... ourselves. Our ability to earn income is really our biggest asset. At Transitions Wealth Strategies we will review your personal situation and put a plan in place that cost effectively protects you and your loved ones should disability occur.

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