When we were kids, it was O.K.
to be sick. You got to stay home, you were fed ice cream and Popsicle's and the
best thing was, you didn't have to go to school. Now the meaning of being sick
has changed, now that we are grown-ups we don’t want to be sick.
Being
ill for the most part scares many people, especially when it comes to long term
illnesses. Long term can be defined as the inability to do your job for 90 days
or more. According to disability insurance carriers in Canada; if an individual
is sick or hurt enough to be out for 90 days, statistics show that you will
remain off work for 2-3 year depending on your age at the start of the
disability.
Protecting
one’s self in the event of a disability is a basic financial strategy, yet
financial planners often hear the expression “I’m insurance poor”, “I can’t
afford the premiums”, or “It’s too expensive”. This is not a new adage either.
Found in my desk drawer I keep a booklet first printed in 1920. The client
objection almost 100 years ago was “It’s all I can do to provide for my family
now.” Which garners the 100 year old response “If it’s hard for you now, how
much harder will it be for your family if you don’t act today?”
Disability insurance for many
people is available through a group plan at work. But this only accounts for 11
million Canadians according to the Canadian Life and Health Insurance Association. The rest simply don’t have coverage either
because their employers don’t provide it, or they are self-employed.
Individual policies are available
with a range of options to make premiums affordable. The cost of coverage among
other things is determined by the amount of benefit needed, the type of
occupation, the age, sex and health of the applicant.
Disability Insurance is a way to
protect everything you work for. The choice to own a policy is yours. Becoming
disabled is not offered as a choice, and ice cream just does not make it better
anymore.
If you are in Nova Scotia and would like some
insurance advice, please contact Corry Collins:
902-444-7000
Please
like, share and comment on my newest post!
Comments
Post a Comment