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What? Me Disabled?

Nobody likes to think about being involved in an accident or because of natural causes becoming disabled. Actually, during one's working years, a study of insurance claims shows that the chance of being disabled is more than dying. In that study, they formed groups from age 25 to age 55 and the results were staggering: with an industry average of 6 people in the 25 year old age group, there was a 99% chance that one in six would become disabled before age 55. If we zoom up to the age 55 group, the odds were 82% that one in six would become disabled. What does this tell us?

We concern ourselves with homeowners, car, boat, life and health insurance- the only thing we don't think of insuring is our income- that which pays for all the other insurances plus other staples, like food and housing. While I am with you in that we all dislike paying insurance premiums, especially ones that are not mandatory, I suggest to you that you add this to the top of the list. If you lose your income, how will you pay for everything else? Disability Income Insurance pays you an income if you are disabled due to accident or natural causes to replace or partially replace your wages lost. If you are with an employer who has a health plan, inquire about your coverage. If not, speak with your Chestnut Planner about how this income saving technique may be applicable for you by applying for a personally owned Disability Income Plan.

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