Disability Income Insurance
What is your single most valuable asset that you possess... is it your home? No. It is your ability to earn a living for yourself and your family.
When you add up your current income throughout your career it will most likely eclipse all the tangible assets in your world by a sizeable margin. Without income, the ability to support yourself and your loved ones to achieve the future you envision is unlikely. Life is series of unpredictable events some which can be literally and figuratively crippling. It is inevitable that challenging life circumstances will arise. Here are some questions to ask yourself to make sure you are insulated against threats to your personal balance sheet:
-In the event of an accident or sickness are you prepared to liquidate your assets to pay yourself for the rest of life starting today?
-Is the amount that your current employer provides for you enough to continue at your current lifestyle? Usually 0%, 50%, or 60% of income.
-What if you start a new job or business? Does your coverage come with you? (the answer is usually no)
-How much of your income does it make sense to protect?
Disabilities occur more often that you would think. 1 in 4 folks in their twenties will experience a disability in their working career and the average length of a disability is 2.5 years. A life event that causes disability is the same as forced retirement. Protecting our clients balance sheets against the uncontrollable and devastating is something we take great pride in at Kutzen Financial. Having the highest probability of hitting our goals and getting what we want is a worthwhile discussion in the holistic planning picture. Winning by not losing is a strategy that will never go out of style!
Although not the most lively topic of conversation, it is certainly an important one. Ask us about what you can do to protect your income and how we can advocate on your behalf.