Most of my clients and prospects are working adults, ranging from late 20s to 50s. Most of them are working. They are working to earn a good income and hopefully they can save and grow their money. They have good intentions. But many are forgetting about protecting their income.
You should know by now that your ability to earn an income is your biggest asset. But many of you think that maybe $300,000 or $500,000 is a good and big enough coverage. You are dead wrong!!
Do you know a worker in his 30s who earns $4,500 a month, with let say a pay rise of 5% a year, will earn about $4 million when he reach retirement age of 65? I'm not even counting bonuses and job promotions.
Now my question to you, if you are in your 30s, do you have $4 million cash in your bank account now? Maybe most of you don't. It is because that $4 million is your future worth that is unrealised yet. You will reach there assuming nothing unexpected happens. But can you guarantee 100% for the next 35 years you will not get sick or accident, etc?
Imagine if you are struck by illness or disability and you cannot work, that means you lose the opportunity to earn that $4 million. Now you are left with whatever you have in the bank and you have to continue living with what you have. It's not a fun situation I believe.
This is why a disability income benefit plan is created. The insurance company will pay you maybe up to 75% of your monthly income if you cannot work due to illness and disability. With this plan, you can rest assure that you don't have to worry about your family and the monthly expenses, because this plan will be your substitute income earner. You will be able to achieve your future worth, no matter what happen.
telegraph.co.uk
Cheers! Have a great day.
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