Protecting Your Income

Did you know that the odds of becoming too sick or hurt to work are 1 in 4? (1) I don’t know about you, but for me those are some very shocking odds! Many people believe that if they do not work in a dangerous field of work that they are not at risk for being hurt on the job or becoming so ill that they cannot work for an extended period of time. However, according to the statistic mentioned, becoming too sick or hurt to work is much more common than people realize.

Did you know that the odds of becoming too sick or hurt to work are 1 in 4? (1)

Something else to consider: when it comes to the most common cause of disability, illness is at a high 90% while accident/injury is only at 10%. (2) The more you think about this statistic, the more it makes sense. Think back – how many times have you had to miss work because you are sick versus taking time off because you are hurt? For me, the former far outweighs the latter which something to take into consideration. No matter how healthy you may be, you never know what the future holds medically, especially when genetics are involved.

Lastly, did you know that 69% of Americans have less than $1,000 in savings? (3) That number is alarming when you think about the amount of work you may have to miss due to an unforeseen illness or injury. How would you cover the bills and everyday necessities if you can no longer rely upon income and have so little saved? If you have people depending on your income, like a spouse and kids, this can cause some serious problems.

69% of Americans have less than $1,000 in savings? (3)

Bottom line is: you need to be prepared! When others are relying upon your income, you can not take any chances that things will not be taken care of if something were to happen. This is why disability insurance is so important. The simplest way to think about disability insurance is that it protects your income, which in turn protects the ones you love. To see if disability insurance is right for you, reach out to your financial advisor today. *

1 Social Security Administration. Fact Sheet, September 2017

2 The Council for Disability Awareness 2014 Long Term Disability Claims Review Disability by Diagnosis

3 GOBandingRates.com Survey 2016

*Guarantees are based on the claims paying ability of the issuing company.

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Dental Network Group member, Codrea Financial Services, specializes in preparing your family and your business to handle the unexpected. We thrive on giving clients confidence in their future. Contact us today to learn more.