Personal Disability Insurance

How important is your paycheck? Do you depend on your monthly income to pay for your family's living expenses?

What would happen if you had a disabling accident or illness and could not work?

How would you...

• replace your income?
• make your monthly rent or mortgage loan payments?
• buy your groceries?
• make your car payments?
• handle the rest of your day-to-day living expenses?
• provide for your children's education?
• save for retirement?
When looking at your options for covering the ongoing expenses you should factor the following:

My spouse works: Can your spouse earn enough and be partner, parent, private nurse, and employee all at the same time?
I'll use my savings: How long can that last? Is that what it is intended for?

I'll get a loan: What lenders will provide a loan without an income to pay it back?

I'll sell my investments: Will a quick sale bring a fair price?

I can collect Social Security: You cannot collect benefits until the end of the fifth full calendar month of total disability and only if it is expected to last 12 months or more. What will you do if your disability doesn't meet those requirements? Even if it does, can you wait six months for payment?

I'll count on family and friends: Would these sources have money for you to use? Do you want to depend on them?

My Employer will cover me: How long can an employer pay a person who is not working? Are they obligated?