Disability Insurance

Your income is your largest asset. Protecting your income with a disability insurance plan is the basis of
any solid financial plan.
Should you lose your ability to work due to an illness or injury, a disability policy—also known as an
income protection plan—will provide the funds to pay your rent, mortgage, food, car payment, utilities,
insurance, etc.

• According to the Social Security Administration (Feb. 2013) 1 in 4 of today’s 20-year olds will
  become disabled before reaching age 67.
•  1 in 8 disabilities will last longer than five years.
•  48% of all home foreclosures are a result of disabilities.
  

To calculate your own Personal Disability Quotient (PDQ), go to:  http://www.whatsmypdq.org.

Types of Disability policies

Individual Disability
Group Long-term Disability - offered by Employers
Business Overhead Expense Disability - to pay a business owner’s business expenses
Buy-Sell Disability - to buy out the business interest of a disabled business partner

Most common disability claims - 2012

31% - Musculoskeletal/connective tissue16%
16% - Mental & Nervous/Substance abuse
14% - Nervous system disorders
11% - Miscellaneous
10% - Circulatory disorders
9 % - Injuries
7% - Cancer
2% - Infectious diseases