Disability Income Insurance Helps Family Meet Expenses

   I’m clumsy and make no pretense about it.  I trip on carpeting.  There are black scuff marks on our vinyl flooring.  I trip on stairs all the time especially going up.  Once I fell down the stairs and landed in the hospital.  I could trip over a cordless phone.  And working with tools - forget it.  My toolbox has 911 on the cover.

   I try to be cautious, but probably have a lot in common with William Palmer, who was hanged in 1856.  The story goes that, as he stepped out on the shaky gallows trap door, he nervously asked the executioner, “Are you sure it’s safe?” 

   Now accidents and debilitating illnesses can happen to anyone.  Although a person under age 65 is more likely to become disabled than to die, most people assume that life insurance is a more significant need than disability income insurance.

   They can see themselves as being alive or being dead, but not as being disabled in between.  At least death allows the family to collect your life insurance.  Being disabled and unable to work for a long period can spell financial disaster.

   When you consider that a 40-year-old has a 43 percent chance of becoming disabled for at least 90 days before reaching age 65, the implications are alarming.

   When a disability lasts 90 days, the odds are high that it could last for years, regardless o ...