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Your income is doing a double job for you. It is providing today's
basic necessities and luxuries as well as serving as the foundation
of your future plans. As long as you have the ability to earn
an income, you are able to accumulate assets.
The graph below shows what your reality may look like in the
event of a disability should you not already own disability insurance.
Remember you can only buy
disability insurance while you are still healthy,
once a sickness or injury occurs you can no longer get a personal
disability insurance policy to protect you and your family.
But what would happen if a disability should strike?
- Your need for the basic necessities of life would continue.
- Plans for retirement, children's education, etc. would have to be put off, if not forgotten altogether.
- You would have to do without luxuries, yet would still be obligated to meet such fixed expenses as mortgage, car and credit card payments.
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