Did you know that 48% of all home foreclosures are the result of disability, while only 3% of foreclosures are the result of death? This is easy to understand if we take a few moments to consider what would happen if our ability to work and earn income came to an abrupt end due to illness or injury. Mortgage payments, automobile loans, grocery bills, utilities, and the other necessities of life still must be paid in spite of a disability. Plus, expenses nearly always increase due to medical costs associated with the disabiling injury or illness.
Today, most of us have life insurance to protect our families should we die prematurely. Unfortunately, disability income protection insurance is not as common, even though a disability is more likely to occur than an untimely death.
We recommend that our clients protect their earning ability with affordable disability income insurance from a reputable carrier such as Ohio National Financial Services, Illinois Mutual, MetLife, or MassMutual. The cost is roughly 2 to 3 % of your income to protect what you have worked so hard to earn. For even the most budget conscious, we recommend that each primary wage earner have enough coverage to pay the monthly mortgage payment and auto payment should a disability occur.
Please call for assistance today by dialing toll-free (866) 488-7010. Or contact us via the email option on this website.
