Are You Protecting Your Income?

Did you know that just over 1 in 4 of today’s 20 year olds will become disabled before they retire? Over 37 million Americans are classified as disabled and more than 50% of those disabled are Americans between the ages of 18 and 64. These statistics from The Council for Disability Awareness identify such an important but often over looked aspect of your financial situation.

It could be that you think you are covered through your employer for disability, but in many cases that coverage is not as complete as it should be. When reviewing your disability benefits there are some important items to consider:

• Does your disability coverage kick in if you are unable to work in your current occupation?

• How long will you have to wait before your benefits are paid?

• What is the length of time you will receive benefits?

• Are your benefits taxable?

• Do your benefits cover retirement plan contributions?

• What portion of your income will be replaced with this disability coverage?

Working with a professional who is a protection expert will help you best gain insight into ways you can be certain that you will reach your full financial potential. By using the Leap Model ™, a Leap Professional can not only help you determine where you are vulnerable with regards to disability, but how that impacts the rest of your financial picture. Remember, all the financial decisions you make are integrated and should be coordinated together to achieve maximum results.

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