A serious illness or injury doesn't discriminate against singles and couples ... or those with children or dependent parents. The fact is everyone needs disability insurance. Be careful not to skimp on disability coverage to increase your other insurance coverages.
Disability insurance is the most overlooked form of insurance, yet it protects your most important asset: your ability to earn income.
Did you know that:
So why do most people consider life insurance before insuring their income?
Simply put, as long as they have a job, they take their income for granted. That's a big mistake!
Here are some general rules about disability insurance:
To begin with, you need to know where the money will come from if you can't work; there are several possible sources of disability income that you may be able to take advantage of. You need to recognize that company plans are only part of the solution, and you need to be realistic about your lifestyle in determining how much is enough.
Disability insurance doesn't have to cost an exorbitant amount; you can make choices about the kind of insurance you get that will hold down the costs. You also need to know how to shop for a policy, and whether or not your disability benefits would be taxable.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC. Insurance products are offered through LPL or its licensed affiliates. Premier America Credit Union and Premier America Investment & Retirement Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Premier America Investment & Retirement Services, and may also be employees of Premier America Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of Premier America Credit Union or Premier America Investment & Retirement Services. CA Insurance License #0759204, TX Insurance License#1643255.
Securities and insurance offered through LPL or its affiliates are: