Most people know about life insurance, and we all have to have health insurance, car insurance, home owners or renters insurance and all of that, but what about insuring your income? Many people don’t consider insuring income for those times when they have to take time off work because of an illness or injury and the sick or personal time just doesn’t cover the length of days? How long can you be off without a paycheck?
Bankruptcies and foreclosures often happen because so many people, once they are diagnosed with a catastrophic illness like cancer, heart attack or stroke, are forced to take time off work to recover. Similarly, an accident in the garage or even on the roadways can put you out of work for weeks at a time. The time lost at work, mounting medical bills and then paying back the debt is just about insurmountable. Many families are forced to do without necessities like food, clothing and transportation and eventually lose their homes. That doesn’t have to happen.
With the Right Start Plan, you are able to protect your income and use the benefits to defray the cost of medical bills and non-covered treatments, help pay childcare and travel expenses for treatments, and even to make adaptations to your home if necessary. The benefits can be used to meet your everyday expenses as well, like making mortgage payments, buying groceries and meeting your other obligations. The peace of mind an income protection policy has built in is enough to help the recovery process.
It isn’t hard to see how often an income protection plan would help a family stay on its feet. An inventory of my own friends and family can at times attest to the fact that illness and injury happens every day; and I’m sure I’m not alone in that. I have seen first hand how income protection benefits families and also how the lack of it can be devastating. The fact that it hasn’t happened to me doesn’t make me immune, it just means it hasn’t happened yet.
Call an AC Financial adviser for more information about the Right Start Plan or ways to structure your income protection program at 800-564-3136.