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 10 Reasons *NOT* to Buy Disability Insurance
by Larry Laskin
As a disability insurance specialist for over 17 years, I am amazed at the excuses people give me for not purchasing disability insurance. It costs too much, I’ll go live with my parents, my spouse will go to work, etc. In their minds, they may be valid, but not necessarily good reasons.
 I have decided to present the top ten (but sarcastic) reasons not to purchase disability insurance:
10. Social Security will take care of you. Although 65 of all initial claims are denied*, you would not be one of them. Even if you did collect, you could live on the small amount they would pay you.
9. You can survive off of welfare.
8. You can rely on your group disability insurance plan at work. After all, you could live on 60% of your pay even though it may be taxable. In addition, after two years, you would not mind working in an occupation that you would not have normally worked in the first place.
7. You can send your kids to work. I am sure they could find some jobs that should cover your monthly expenses.
6. You can borrow from any bank. They would not mind lending money to someone who is not working.
5. You don’t mind cutting back on the amount of food you eat. You have been wanting to lose weight anyway.
4. You don’t worry about filing for bankruptcy. It only affects your credit for seven years anyway.
3. Your kids don’t need to go to college. It’s so overrated anyway.
2. You don’t care about retiring. If you happen to recover from your disability, you can just work for the rest of your life.
1. You don’t mind living with your parents or in-laws. They wouldn’t mind having you and your family living in their house and paying for all of your expenses.
Of course, this is meant to be funny. I can’t imagine anyone really believing that any of the above are valid. It is just meant to make you think about the possibilities of you becoming disabled and not having the proper disability insurance plan in place.
Most of us have auto, home and life insurance. Why not get the one insurance that can help ensure that you can continue to pay your monthly expenses.
*http://www.UltimateDisabilityGuide.com/ssdi_ssi_denial_rates.html
Disability income products underwritten and issued by Berkshire Life Insurance Company of America, Pittsfield, MA a wholly owned stock subsidiary of The Guardian Life Insurance Company of America (Guardian), New York, NY, or provided by Guardian.
Product provisions and features may vary from state to state.
Registered representative of Park Avenue Securities LLC (PAS), 1355 Piccard Drive, Suite 380 Rockville, MD 20850. Securities Products and Services offered through PAS 240-683-9700.
Laurence J Laskin , The Guardian Life Insurance Company of America (Guardian), New York. PAS is an indirect, wholly owned subsidiary of Guardian
Laurence J Laskin is not an affiliate or subsidiary of PAS or Guardian
The views and opinions expressed herein are that of the author and do not represent the views and opinions of The Guardian Life Insurance Company of America, its subsidiaries or affiliates.
PAS is a member FINRA, SIPC |
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