Disability is bad enough – disability without income is even worse. Disability income replacement insurance is a long-term solution to a long-term disability.
The following is a list of possible sources of income when someone becomes disabled and can no longer earn a living:
- Savings – If you save 10% annually, one year of disability may wipe out 10 years of savings.
- Social Security – Almost 70% of applicants are rejected.*
- Sell investments – Will you get the true value?
- Loan – Without an income, who will lend you money?
- Family, friends and charity – Do you want to depend on them?
When disability occurs, most other options, except insured income replacement, may be unsatisfactory or quickly exhausted.
* Source- Social Security Administration
