Last posted at diservices.com
Are you protecting your most valuable asset? Your most valuable asset isn’t tangible. It’s not your home, your car or your retirement savings — it is your paycheck.
Just how valuable is your paycheck? To find out, multiply your annual earnings by the years until retirement. By doing this simple equation, you can quickly see that your income far exceeds the worth of all your other assets combined.
The only way to protect your paycheck and your future is with disability insurance. Paycheck protection is of paramount importance to the following four key groups.
- Baby Boomers – This group runs a high risk by earning the highest income and having the greatest debt load. Baby boomers could face financial ruin if an injury or illness takes them out of the workforce. The need for this group to insure their earnings is at an all-time high as 82 million boomers enter middle age. If you’re a boomer, imagine how devastating it would be to work hard all your life and then lose everything just because you didn’t have disability insurance.
- The Sandwich Generation – This generation is defined by supporting both children and elderly parents. Typically already pinched financially, incomes and savings can be depleted if a disability stops the breadwinner from earning a paycheck. The wise move is to protect yourself and your family with disability insurance.
- Single Parents and Divorcees – With limited incomes and large expenses, many newly single parents and divorcees don’t have a backup plan to protect their earnings. This group’s paychecks are important because of the single-incomes and no other earner for backup. As a single earner, it is hard to create enough savings to cushion for an injury or an illness. This is where paycheck protection comes in.
- Business Owners and Self-Employed Individuals – Business owners and the self-employed have many advantages. However, one thing this group doesn’t have is employer-sponsored group disability coverage. When many venture out on their own, they don’t replace that lost coverage, which is a big risk. Because incomes and earning patterns for the self-employed are already unpredictable, their paychecks need protection, especially if an injury or illness occurs.
Do you fall into one of the above categories? If you do, get disability paycheck protection now. You must take action to protect your income and your future.