If
the stream of paychecks that makes your life possible stops how
long would your savings last?
For the cost
of dinner for two you can have a disability plan that can save your
home and your bank account.
You can get
guaranteed issue disability insurance with:
- no medical questions.
- no need to show tax returns
- no physicals
The only requirement
is that you can prove you work full time. Self-employed if OK.
We
sell health insurance and there is no denying the need for a decent
health insurance plan. But, I would rather see you take a somewhat
higher deductible health insurance plan and use the savings for
some disability insurance. It is a much smarter use of your insurance
budget. You will have much more overall protection.
Very few employers provide
Florida disability insurance that lasts longer than a few weeks.
After that you are on your own. If you have your own business then
you probably have no protection at all. When making a decision regarding
Florida disability insurance, consider the following:
If you
saved 5% of your annual income for a "rainy day", an extended
disability could eat up close to 10 years of savings in just 6 months.
* |
Between
the ages of 35 and 65 seven out of ten people will become disabled
for 3 months or longer |
* |
Average American
household only has two months worth of savings in reserve. |
* |
Workers compensation
coverage only covers injuries that occur on the job |
COMMON MISCONCEPTIONS
ABOUT FLORIDA DISABILITY INSURANCE
"I am in
good health, I know I can earn a living."
This is a common misconception. People can become disabled in many
ways; workplace injury, car accident or the onset of a debilitating
medical condition. Statistically between the ages
of 35 and 65 seven out of ten people will become disabled for three
months or longer.
"Won't Social
Security help me?"
Social Security benefits are extremely difficult to qualify for
and take a great deal of time to finally start. You must prove that
not only are you incapable of performing your usual occupation but
any occupation. In addition, the benefits most likely will not meet
your financial obligations. The maximum payment for a 30-year-old
earning $70,000.00 per year is $1,600.00 per month.
- 1993 - Social Security
denied 55 % of 1.4 million applications it received.
- 1998 - only 35% of Social Security disability claims were approved.
- Over 5 months must pass before Social Security will pay on an
approved claim
- Social Security requires that you cannot perform "any"
gainful work.
- Social Security demands that the disability must last at least
12 months.
"What about
employer provided group disability or worker compensation coverage?"
Workers compensation only covers individuals that have been injured
on the job and those benefits are typically quite low and do not
come close to covering your earnings. Florida Group disability plans
through an employer are not prevalent, less than 41 % of companies
with over 100 employee's and less than 19% of companies with under
100 employees provide this coverage. Also these benefits will not
be adequate to replace income.
At Least Protect
Your Home!
According to the United States Saving and Loan Association
- Less than 3 percent
of all mortage defaults occur because the bread winner dies with
inadequate life insurance.
- Nearly half (48 percent), however, occur because the bread winner
becomes disabled and has inadequate disability income insurance.
"Isn't Florida
disability insurance expensive?"
No, actually it is very affordable.
You can purchase disability insurance for as little as $25 a month.
This is guaranteed issue with no medical questions. If you are self-employed,
it can be a nightmare trying to get florida disability insurance.
This plan asks for no tax records. It is very simple to obtain.
The plan is available
in ALL 50 States and is underwriten by an A.M. Best "A"
rated carrier.
Give us a call at 800-986-4786
or you can see more information on the plan at our guaranteed
issue disability insurance web page
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