He never thought it would happen to him, that it could happen to him.  He was careful: he never took huge risks, thought through his actions before taking them.  But it wasn’t enough to protect him from this.

He fell.  He fell far, and by the grace of God he survived the fall.  He should have died, but by a miracle he survived.

But now he can’t work; this hardworking, family man can no longer provide for his family, through no fault of his own.

1 out of every 4 people in the US will suffer a disability before retirement.

What if it was you?

What if something happened to you that removed your ability to provide for your family?  How would they eat?  How would the rent get paid?  How long can you go before they cut off your lights and heat?

The way to protect your family is with Long Term Disability Insurance (LTDI).

But you are still thinking that you won’t ever get hurt.  1 out of every 4 people in the US will suffer a disability before retirement.  And every second someone becomes disabled!

LTDI usually pays out 60-65% of your gross pay for the duration of the disability.  This works out to be pretty close to most people’s take-home pay!  And if you buy it with after-tax dollars, it is not taxed!

You may still be thinking that you don’t need any more deductions from your paycheck, and besides, isn’t that what workman’s comp is for?  Workman’s comp won’t cover an injury if it happens outside of work, and knowing many people who have had to fight them for what is due, I wouldn’t recommend relying on that to cover you, either.

• Many employers offer LTDI (and short term disability insurance), and purchasing it at work is the most affordable way to get it.
• There is an ‘elimination period’ of usually 90 days before LTDI kicks in; cover this income gap with your emergency fund.
• You don’t need short term DI because you have an emergency fund.
• Purchase your LTDI with AFTER-tax dollars, if given the option, so that you won’t be taxed on your benefits.

If you are not sure what your employer offers, talk to HR and enroll if it is available ASAP!  If you want to review what your employer offers before signing up, contact me and I’ll help you understand each benefit your employer offers, and help you decide what is best for you and your family.

Share with me your experience with LTDI and/or workman’s comp!