Many will go through life insuring what is so important to them˳ I’m sure you can name some of them: Auto/Home/Boat/jewelry/computers/business/etc˳ At claim time you expect them to perform and get a replacement or to at least put you back to where you were˳ In order to have these things that you love, you have to produce an income˳ This is important because income is required in order to have everything else, including supporting your family˳ However people take it for granted˳ How will you maintain your family’s current standard of living if you become too sick or hurt to work? If you do not protect your income, you could lose everything˳
Statistically, sixty-two percent of bankruptcies in America are due to medical bankruptcies˳ Yet three-quarters of them had health insurance at the time of the onset of the illness*˳ So if they all had health insurance, was health insurance the root of the problem?
No˳
Sure medical bills piled up beyond affordability˳ Most people will blame the health insurance for the cause˳ This is partly because we are too much in the habit of treating the symptom of the problem verse getting to the root of the problem˳
If you had income coming in on a monthly basis so you can go for treatment, would that help manage the medical bills piling up? Of course it would˳ What is your plan to make sure you have income once you are too sick or hurt to work?
If you had a choice, would you leave work to focus on your health or would you continue to work while receiving treatment?
I think that choice is obvious˳
Let’s dig deeper… what if you are forced to take a leave of absence to focus on your health and your life depended on it? Would you continue to work anyways? Chances are you would take time off˳ No amount money is that important when your life is at stake˳ Or is it?
How are you going to pay for those bills, keep food on the table, clothes on the backs of your growing children and keep a roof over everyone’s head?
This is a question that most will not address the topic, or even think about it˳ You cannot afford not to insure your ability to earn an income, and that is because your life does depends on it˳
Insuring your ability to earn an income should be at the top of the list with other important insurance programs˳ It could be easily ignored because you are working now, but one day that will change˳ You are not immortal˳
1 in 3 people will lose their ability to earn an income prior to the age of 65**˳ The chances are high enough that it will be you, one day˳ But since you do not feel any immediate pain from it, it is easier to put it off˳
Your homeowner’s policy won’t pay you anything if you are too sick or hurt to work˳ Some will say “what about life insurance”˳ Maybe˳ If you planned for it correctly, it could˳ Otherwise life insurance should be called death insurance˳ Typically, it can only be used once and you are not even the one receiving it˳
Reviewing and implementing an insurance policy to protect your income is so important these days˳ It is so important, it should be the most important insurance program you should have˳ After all, your life could depend on it˳
*2009 Harvard Study
**2007 LeClair Corportion
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