Wednesday, February 10, 2016

Do you know the facts?

10 Reasons Not to Buy Disability Income Insurance

You may have your reasons for not buying individual disability income insurance (DI).  But do you know the facts?

10.  Social Security will take care of me.
          Fact: For those who do qualify, the current average monthly benefit is only $1,191. (1)

9.    It won't happen to me-- I expect to stay healthy.
          Fact: One in four of today's 20-year-olds will become disabled before reaching age 67. (2)

8.   It costs too much.
          Fact: The average annual cost is typically only 1 to 3 percent of what you earn.

7.   My Financial needs change so fast.  What policy could keep up?
          Fact: A DI policy from Principal Life Insurance Company is flexible.  You can change it as                   needed.

6.    I want a policy that keeps pace with my income-- without medical underwriting.
          Fact: Principal Life offers riders that allow you to increase your coverage without providing                   evidence of medical insurability.

5.   I have coverage through my employer.
          Fact: Group disability insurance typically covers 60 percent of gross income, and benefits
                   are usually taxable.  Can you afford more than a 40 percent pay cut?

4.   I would have to be totally disabled to receive benefits.
          Fact: There are ways to protect your income in the event of a partial disability.

3.   My family and friends will help me.
          Fact: Are your loved ones in a position to support you?  Do you want them to?

2.   I can always buy coverage later.
          Fact: People usually don't get healthier as they grow older, and coverage will cost more.

1.   I can rely on my savings.
          Fact: Even if you save 10 percent of your salary, one year of disability could easily wipe
                   out many years of savings.

Please contact us today to discuss the importance of disability income insurance, and how we can help create a customized plan to fit your needs and budget.

(1) Social Security Administration, January 2013.
(2) Social Security Administration, Fact Sheet February 2013.


Principal Financial Group
WE'LL GIVE YOU AN EDGE®
Principal Life Insurance Company, Des Moines, Iowa 50392
www.principal.com
Disability income insurance has limitations and exclusions.
For costs and complete details of coverage, contact your
Principal Life financial representative.

2 comments:

  1. Nice information on here, I would like to share with you all my experience trying to get a loan to expand my Clothing Business here in Malaysia. It was really hard on my business going down due to my little short time illness then when I got heal I needed a fund to set it up again for me to begin so I came across Mr Benjamin a loan consultant officer at Le_Meridian Funding Service He asked me of my business project and I told him i already owned One and i just needed loan of 200,000.00 USD he gave me form to fill and I did also he asked me of my Valid ID in few days They did the transfer and my loan was granted. I really want to appreciate there effort also try to get this to anyone looking for business loan or other financial issues to Contact Le_Meridian Funding Service On Email: lfdsloans@lemeridianfds.com / lfdsloans@outlook.com He also available on WhatsApp Contact:+1-9893943740.

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