Life is full of unpredictable twists and turns. While we work hard and pray for the best, it’s crucial to be prepared for the unforeseen. What if an illness or injury were to keep you from being able to work and earn a living? That’s where disability income protection coverage comes in.
This valuable coverage acts as a financial safety net if an illness or injury prevents you from working your job. The coverage replaces a portion of your pre-tax income (typically up to 60%), ensuring you can:
– Maintain your lifestyle: Cover essential expenses like housing, groceries, debt, and bills.
– Focus on recovery: Dedicate your energy to getting healthy without financial stress.
– Protect your loved ones: Provide stability and security for those who depend on you.
Disability is more common than you may think. According to the Social Security Administration, there is a 25% probability of becoming disabled between age 20 and normal retirement age. Social Security benefits are usually not enough. Even if you qualify, they often only cover a small portion of your income.
Your most valuable asset is your ability to earn an income. Disability coverage is an investment in yourself and your family. It’s an affordable way to safeguard your future financial well-being in case of the unexpected.
As an independent wealth management firm, we are fully equipped to assist with your income protection analysis and needs. Reach out to us at 423-283-9821 or SHoilman@BCSWealth.com.