The Million Dollar Gap
Can you imagine missing out on a million dollars?
The Canadian band, Barenaked Ladies, sang “If I Had a Million Dollars.” Well, what if you became seriously disabled and could not work for years – if ever again? How much money do you think you would be missing out on in order to fund your life and the life of your family?
Yes, without the proper protection of your income, you too might sympathize with Barenaked Ladies.
If you had a million dollars …
You could buy an emu.
You could own an expensive house outright.
You can retire with dignity.
Your spouse doesn’t have to work as much or at all.
You can own a lot of the fancy things about which you’ve always dreamed.
Well, let’s just say you’re 30 and you’d like to continue helping people until 65. If you made an average of $14,000 per month ($168,000 per year) in those 35 years, you would have produced close to $6 million in income (not including raises). Can you imagine what you would do with $6 million?
Could you imagine being without that money? Could you imagine being alive and willing to work for that money, but not having the physical ability to do so? How long could you survive in your current lifestyle without that money? Are you able or willing to cut back your lifestyle if you didn’t have that money?
Are you willing to get that emu repossessed?
While disability insurance may not cover 100 percent of your salary, it certainly can help you get some of that $6 million into your home when you’re unable to earn it yourself. It can at least be enough to help you take care of your essentials so you can live.
Protect your income so you don’t have to sing “If I Had a Million Dollars.”