How long could you stay the course if you lost your ability to earn your present income? Simply put; a disability is the inability to pursue an occupation because of a physical or mental impairment. While no one likes to think about worst case scenarios it is always helpful to be prepared for them and therefore be better positioned to focus on the things you most enjoy in life.
Most of us would not argue that insuring our valuable assets is a wise decision. We insure our homes, our cars, our jewelry and our lives without question but often we miss our most valuable financial asset: our ability to earn an income. Protecting your ability to earn just makes good common sense.
The first step to determining your needs in the event of a disability is to objectively analyze how a short or long-term disability would affect your overall financial plan. This should include analyzing your needs as well as available dependable resources. This information can help you to make an educated and well thought out decisions on how to protect yourself and your family in the event of a disability.
We understand without proper protection planning your way of life might be at risk should you become disabled. One of our wealth advisors can help you to objectively analyze your needs and, if appropriate, help you in selecting and implementing a suitable program.