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Disability Insurance

When most people think about their financial assets they think about tangible things like their homes, cars and bank accounts. But when you really stop to think about it, it's your income and your ability to earn that income is your most valuable financial asset. Calculate in your mind how much you earn over the years... millions. Then think about the enormous financial consequences of not working due to a serious illness or injury. This is why disability insurance is a smart decision. Most of us do not hesitate to insure large possessions like homes and cars, why not protect your largest and most important asset, your income.

Basically if you have a job, you need disability insurance to safeguard your income. Here are the stats: for women it's one in three, for men it's one in four. That is the probability of being out of work for more than 90 days at some point in your working years. A disability or injury not only means loss of income, it can also mean additional expenses such as medical bills, modifications to your home and/or car, etc. Almost everyone who works, regardless of their marital status or family situation, should strongly consider disability insurance.

A few state governments and some employers offer group short-term disability. Workers compensation and Social Security also offer disability coverage though it can be highly restrictive. However, the most reliable and flexible source of coverage is individual disability insurance that is purchased through an association (sometimes discounted) or on your own. Typically, plans pay benefits between 40% - 65% of gross salaries. Plans vary so speak to a knowledgeable representative at Asset MarketPlace before purchasing coverage.

Contact us today for more information.