Let’s suppose you are the primary provider for your family, which depends completely on your income to support all of its household needs.
Recently, you’ve been hunting for a better job and now there are two offers on the table:
- Your first offer comes from an employer who will pay you $100,000 a year, but you must personally assume the risk associated with suffering a disabling injury or illness. If, at age 35, you get sick or hurt, your lost earnings could amount to as much as $5.2 million dollars assuming only 3% annual increases over your working career.
- The second offer comes from a different company that will pay you $98,000 a year salary and provide a guaranteed income benefit of $65,000 annually in the event you suffer a long-term injury or illness that prevents you from working. If you become disabled at age 35 and are unable to return to work, those benefits could equal as much as $2.2 million.
The Council for Disability Awareness statistics show 1 in 4 of today’s 22 year-olds will become disabled before they retire and that the average long term disability work absence is 2 ½ years.
Now you are aware of the disability statistics, I am certain you recognize the value the second employer’s offer, and would accept, and are glad to have the choice to have the protection for you and your family.
Our job as advisors:
- Help educate our customers about the risks associated with being sick or hurt and unable to go to work.
- Give our customers a chance to vote on whether they would like to hand off that risk to an insurance company.
Over 100 million working Americans don’t have private disability coverage and I suspect most of them have never been given a chance to vote. Help your clients make the right decision.
Contact your Disability Income Insurance Specialist today for more information on these types of Disability Income Insurance scenarios and more.