A steady income is a lifeline for most working people, but these days, it seems there’s less to go around. Americans feel like their paychecks are being stretched thinner, a recent Gallup Poll confirms. Other than the recent drop in gas prices, when was the last time you bought something and the price had gone down? Some expenses, like health care, can increase significantly each year.
According to a study by the Brookings Institute, more than 25 million middle class American families are living paycheck to paycheck. It’s no shock the study also found, “Those living paycheck to paycheck have a tougher time weathering income shocks, such as illnesses or bouts of unemployment.”
So, adding a new expense – like disability insurance – to an already leveraged paycheck could be a hard-sell for your clients. But the REAL struggle would be not having a paycheck at all if they were sick or hurt. According to the Council for Disability Awareness, less than 5 percent of disabling accidents or sicknesses are work related, and therefore would NOT qualify for workers compensation.
Disabilities happen to people every day. They may not be life threatening, and they may not last for years, but even a couple months without a paycheck may create long-term financial and mental hardship. Yes, disability insurance is another expense, but it will provide priceless help should an accident or illness strike.
Put it in Practice: Help your clients look past the expense of disability insurance and see the value of paycheck protection. Plus, getting them covered when they’re healthy and young makes the process easier and costs less money. Talk to the Ash Brokerage DI team today!
© 2018 Ash Brokerage LLC.