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It's National Disability Insurance Month

So what exactly are we celebrating during National Disability Insurance Month? This month we celebrate protecting our income and independence through proper planning.

For many, our ability to earn an income is our most valuable asset. We have no fortune to live off and no asset that generates a passive income. If our ability to work and earn our salary is impeded, what will happen to us and our dependents?

An emergency fund won't last forever and certainly won't replace your income. Not to mention you may experience an increase in expenses related to the disability sustained, such as medical expenses. These extra costs can drain an emergency fund faster than expected, especially if the proper income replacing disability coverage isn't in place.

"Disability Insurance helps protect our income and our independence"

The name disability insurance is a little confusing. It leads most people to imagine the primary reason for purchasing a policy is to protect against an injury that keeps us from working. While that's certainly one of the reasons why we purchase disability insurance, disease is what the coverage most commonly protects against, not accidents. That's simply because it's more common to lose the ability to work through disease rather than from being involved in an accident.

There is a lot you can do to protect yourself and your family from experiencing this awful situation. There is a wide variety of disability insurance options available, including different types to fit the protection needs and budgets of everyone. This includes the ability to add options called riders to your plan which give it special benefits to the insured.

By protecting our income we also protect our independence. Disability insurance can help prevent disease and injury from taking that away from you. Maybe the disability sustained will be long lasting and physically debilitating, but that doesn't mean you can't be financially independent. It's important to maintain control over your finances and to be in the position to provide for ourselves and our loved ones.

Customize a disability insurance plan to fit your budget and coverage needs. Click here to speak with Michael Romanello and find out if disability insurance is right for you.

Have a Happy National Disability Insurance Month this May!


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