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Million Dollar Disability Insurance

June 8, 2012 by Chuck Krugh, CFP

Million Dollar Disability Insurance

Can you imagine losing out on a million dollars?

The Canadian band, Barenaked Ladies, sang, “If I Had a Million Dollars.” But what if you became seriously disabled and couldn’t work for years—or ever again? How much income would you lose? How would you support your family?

Without disability insurance, that song might hit a little too close to home.

If You Had a Million Dollars…

With a million dollars, you could:

  • Buy a dream home.
  • Retire comfortably.
  • Support your family without worry.
  • Afford the lifestyle you’ve always wanted.

Now, let’s say you’re 30 years old and plan to work until 65. If you earn $14,000 per month ($168,000 per year), that adds up to nearly $6 million in lifetime earnings—not including raises.

What If You Lost That Income?

What would happen if an illness or injury made it impossible for you to work? Could you maintain your current lifestyle? Could you still pay your mortgage, loans, and daily expenses?

Would you have to cut back on everything you worked so hard for?

Disability Insurance Helps You Keep Earning

While disability insurance won’t replace 100% of your salary, it ensures you still receive income if you can’t work. It helps cover essentials so you can continue living your life—even if you face unexpected health challenges.

Don’t leave your future to chance. Protect your income with disability insurance—so you never have to wonder, “If I had a million dollars.”

Ready to protect your future?

Get a personalized side-by-side policy comparison of the leading disability insurance companies from an independent insurance broker.

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CategoriesDisability Insurance,  Financial Planning Tagsdisability insurance

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