What would you do if you couldn’t work? No paycheck. With bills to pay including mortgage, rent or ongoing household expenses, what would you do without an ongoing stream of income. The solution is Short Term Disability and Long Term Disability. If you have made it this far in life, the chances of being disabled and unable to work for a period are much greater than dying. It’s true and yet many American’s are ill prepared for disabling injuries or illnesses. Imagine having a stroke and unable to work. What would you do? That’s where Disability insurance comes into play and provides income replacement typically at 60% of pre-disability earnings all the way until retirement age.
Group term Life and Accidental Death and Dismemberment (AD&D) insurance is essential for breadwinners that need assist those left behinds with major expenses such as a home mortgage or sending kids to college. It’s cheap too. A basic $50,000 term life policy can cost around 2 latte’s a month.