One of the top reasons people give when purchasing an individual Disability Insurance (DI) policy is that it's part of their retirement planning. You see, when people save during their working years, most likely that money is being saved for their retirement. However, one illness or accident could not only keep that person from working, but the loss of income would mean dipping into those savings.
Granted, most of our clients who buy DI are self-employed, such as business owners, salespeople or contract employees who don't have access to "group plans". Also, these people have to create their own benefits "package", which includes some sort of retirement plan. Linking their retirement planning with a DI plan makes sense.
When people think of disability insurance, they usually think of someone in a cast or wheelchair who suffered some sort of accident. In reality, around 85% of all claims are from illnesses, such as cancer, heart attack or a stroke. These claims can go on for months while the bills continue to come in the mail. A DI policy can keep those bills paid and your retirement savings intact.
If you are a business owner or otherwise self-employed, let us help you find a DI policy that covers your bills and stay in your budget.
Chris Castanes is the president of Surf Financial Brokers, helping people find affordable life and disability insurance coverage. He's also is a professional speaker helping sales people be more productive and efficient and has spoken to professional and civic organizations throughout the Southeast. Please subscribe to this blog!
