Disability

You probably insure your home, car, business and other assets. But what about the income that creates those assets? If you had a goose that laid golden eggs, which would be more valuable to insure? Would it be the source (goose) or the result (eggs)? Obviously, the goose, since it produces the eggs. In this scenario, you are the goose. You produce an income that allows you to accumulate assets and provides you and your family a certain standard of living and keeps your business or practice running smoothly. Generally these assets are well protected (home, car, jewelry, building). If due to an accident or sickness, however, you lose your income, how would you and your family continue to manage. More bankruptcies and home foreclosures are due to disability than the death of the breadwinner. Disability insurance protects your income and your lifestyle while providing added security and recovery support.

During the course of your career, you are more likely to become disabled that die before age 65.

Probability of a Disability lasting at least 90 days vs. Death
between the age shown in the table and age 65

Age

% more likely to become disabled than die

Male

Female

25

32%

147%

30

31%

141%

35

32%

135%

40

32%

125%

45

32%

111%

50

33%

94%

55

32%

79%

60

9.3%

10.6%
Mortality based on 2001 CSO Ultimate table (composite smoking status)
Disability based on 1985 CIDA, 90-day elimination period, occupation class 1. Statistics vary by occupation Occupation Class 1: includes professional, technical and managerial occupations that are generally office duties only
1985 CIDA is the most current morbidity table for individual disability claim incidence adopted by most State Departments of Insurance

Your total future income to age 65 will be millions of dollars. Can you risk losing it all?

Ask yourself these questions. If I experience an accident or sickness:

  • How will my family and I manage our monthly expenses?
  • Will my family’s standard of living be affected?
  • Will the ongoing fixed expenses of my business be paid?
  • Can my business interest be purchased by another party?
  • Will contributions to my retirement plan be continued?
  • If a key employee is disabled, can I afford to continue to pay their salary and their replacement’s salary?

At TriSure Group we not only ask these pertinent questions, but we help you find solutions. We sort through the maze of insurance companies, products and provisions to make sure you are well protected.