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Know
the Facts
You
may have your reasons for not buying individual
disability income (DI) insurance. But
do you know the facts?
Reason
1: I can always buy coverage later.
Fact:
People usually don't get healthier as they grow
older, and coverage will cost more.
Reason
2: My family and friends will help me.
Or I will use my savings.
Fact:
Are your loved ones in a position to support
you? Do you want them to? And, even with
saving 10% of your salary, one year of
disability could easily wipe out many years of
savings.
Reason
3: I have disability coverage
through my employer.
Fact:
Group disability insurance typically covers
60% of gross income, and benefits are
usually taxable. Can you afford more than a
40% pay cut?
Reason
4: It costs too much. I'll purchase it
later.
Fact:
The average annual cost is typically only 1% to
3% of what you earn. Plus, the longer
you wait, the more likely the premiums will
be more expensive.
Reason
5: It won't happen to me/I expect to
stay healthy.
Fact:
During the course of your career, you are 3
1/2 times more likely to be injured and
need disability coverage than you are
to die prematurely.1
Ask me
how I can help you protect your income!
Your ability to work and
earn an income is your most valuable asset -
make sure you have the income protection you
need!
Lori
Pederson
lori@pentecofinancial.com
1
Health Insurance Association of America,
2000
This
is a general summary only. Additional
guidelines apply. Disability insurance
has limitations and exclusions. For
costs and complete details of coverage,
contact your Principal Life financial
representative.
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