Anyone can become disabled. An automobile accident, a sports injury, a chronic or sudden illness all can interfere with a person’s ability to continue working. Most people associate disability with accidents, but in reality your clients are much more likely to suffer an illness related disability.
Their chance of becoming disabled for longer than 3 months is greater than their risk of dying prematurely. This is partially due to the fact that advances in medicine have made many previously fatal illnesses treatable – people live longer – but with this comes the increased likelihood that we will experience some form of disability throughout our primary breadwinning years!
Currently there are 1.5 million people who have been forced to leave the US workforce due to disability. Workers age 30 face a 1-in-3 chance of suffering form a disability lasting at least 3 months during their working careers!
Once disabled, many people will never be able to return to work. One of the most powerful stressors during this time for the disabled person is the knowledge that short or long-term, they cannot support themselves and their family. Aside from their recovery process, this financial burden weighs most heavily on them and their families. A family loses its primary income, while inheriting increased expenses associated with the disabled worker’s recovery process.
Not only is income lost, but you lose your ability to save for retirement and lose any medical/benefit packages provided by your employer. Few workers today have enough savings to support their families during a disability of any duration.
Long-Term Disability Insurance (LTD) can be the saving factor when the “unexpected” hits. As with anything ‘unexpected”, it takes planning ahead to survive a crisis if and when it does happen! Purchasing Long-Term Disability Insurance is a smart way to provide additional security and peace-of-mind for them and their family.
Benefits received are tax-free as long as this insurance is paid for with after-tax dollars. This insurance is not tied to a person’s current job, leaving them free to explore employment opportunities throughout their career while experiencing the continual security of having LTD Insurance safely in tow.
If you are thinking of becoming self-employed at some future time, securing your LTD Insurance while employed elsewhere is the most affordable way to go – plan ahead!
If you currently are self-employed (own your own business) you can protect yourself with LTD Insurance that will protect your own income. You can also purchase “key person” insurance that will protect you from the impact that losing an important employee would have on your business. Business overhead expense insurance ensures that if you get sick, your business will stay healthy by paying ongoing overhead expenses. Finally, you can purchase a disability insurance policy that will enable you to buy your partner’s business interest in the event that he or she becomes disabled.
If your clients are highly skilled or highly paid professionals, you will want to work with Star Life Partners to obtain LTD Insurance known as own-occupation. This class of LTD Insurance will lock in your client’s income level and/or their specific profession. Your clients will be secure in the knowledge that until they can return to the same level of occupation post-disability, they will be covered by LTD Insurance.
Star Life Partners works with you to customize both product selection and product variety so that you are able to exceedthe expectations of your customers.