Income Protection- The Gift That Keeps On Giving

Shopping this Holiday Season- from Petersen International and Clark Irish InsuranceResearchers anticipate Americans will have record spending on gifts and holiday trimmings and trappings this year.  But what is even more astonishing is the realization of how few Americans have appropriate disability income protection.  That may have sounded like a sloppy literary transition, and you may not see an immediately strong connection, but the two show promising similarities.Here is a light-hearted, but sincere comparison of how shopping during the holiday season is like shopping for disability insurance:

Expense

We shop during the holidays, part out of ritual, part out of love and part out of necessity.  Each of us will spend hundreds to thousands of dollars this year on presents, wrapping paper, food and home décor.  These are the costs of bringing fun and joy to loved ones during the holidays, not to mention the definitive achievement of self-satisfaction which, interestingly enough, can also be found with the peace of mind brought on by the purchase of a comprehensive disability income protection plan.  A disability policy can seem expensive to consumers, but the costs are miniscule when compared to the potential financial losses endured at the mercy of the disablement of a family’s breadwinner.

Procrastination

Many of us are last minute shoppers, negotiating late-December crowds for unclaimed items on disorganized shelves.  It is amazing how some of us will settle for the scraps of consumerism.  The longer you wait to hit the malls, the generally more expensive and less available you will find the goods for which you are searching.  Similarly, disability insurance is cheaper and more readily available to those who don’t procrastinate.  Like life insurance, DI is best bought early when you are younger and your health history is rather short and uncomplicated.

Reward

The reward of shopping this holiday season is the smile on a child’s face or a warm embrace from a loved one.  The goal of the holidays is to show and share that warm feeling you get when someone opens a present you bought just for them.  Disability insurance garners similar merits.  It provides sound financial protection for your family during periods of drastic transition and economic loss.  Personal DI is the light during dark times and can bestow upon you that same warm feeling when you realize your family’s lifestyle won’t be severely affected by the unfortunate disability of a family member.

Finality

Once it happens, you can’t go back.  The holidays come and go quickly.  If you neglected to purchase that new video game your kid or grandkid was so hoping to open, you are in trouble.  You can attempt to compensate by making amends and over-spending on something else, but the damage has been done.  Likewise, if you become disabled or are diagnosed with a serious medical condition before you secure disability insurance, you are most likely stuck without much financial support or stability.  You and your family will ultimately suffer.

Realistically consider the sudden or gradual disablement of a client, close friend or family member who is unable to work, unable to make a living, but still a monetary consumer.  How would the family of that person financially cope during the holidays next year…and the year after that?  The only reasonable solution is to be prepared by employing a well-balanced financial plan spearheaded by high limits of personal disability insurance.

If you work for yourself and think you can’t afford a Disability policy, the question you should ask yourself is whether you can afford not to have a Disability policy.  How many months could you go without a paycheck if you tweaked your back and couldn’t work or your arthritis made it too painful to perform your duties?

If you’d like more information on how you can obtain income protection for your household at a price that fits your budget, please call us for more information.  Happy Holidays.

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