Health is Your Greatest Asset

What’s your most valuable asset? Your car? Your savings and investment accounts? Your house? It’s actually “none of the above.” Your greatest asset is your ability to earn a living. Think about it—what would become of you and your family if you suddenly became disabled and were no longer able to work?

While few people think about a catastrophic injury or illness coming between them and their paychecks, at all ages combined the odds of becoming disabled are greater than those of dying. The average 35-year-old has a 25 percent chance of being disabled for more than three months compared to a 20 percent chance of dying before age 65.

There are some who believe that their savings and investments would be sufficient to take care of their financial needs in such an event. As a professional person you likely enjoy an income that is higher than average. It is years of hard work and study that has made this possible. Disability insurance can prevent much of the financial headache and allow the disabled person to focus on recovery.

One thing that is certain is that the disabled person will see a rapid depletion of his or her assets. I have seen fear and worry totally destroy the confidence of a disabled person, he eventually lost his will to live and died before he should have. With such success there is always the risk of loosing it all because of a gradual or sudden disability.

Disability insurance is one of the most important insurance policies you can own. It is used to replace income in the event of total or in some cases partial disability. The cause may be accident or illness. The definition of "disability" for the purposes of insurance would include the inability to perform the duties of one's occupation. Disability insurance typically provides disability income benefits that begin at the end of a specified waiting period and that continue until the claimant returns to work, is deceased, or becomes eligible for pension benefits.

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