Parker County Today May 2018 - Page 72

our professionals: INSURANCE SPECIALISTS Life Happens Who’s Gonna Fill Their Shoes ? Disabled? Me? Never!!! How valuable is your income? T hat seems like a silly question to ask, but unfortunate- ly, many people underestimate the true value of their income. This is because most people do not consider the full depth of support that one’s income provides. To gain a better understanding of the value of your income, consider these steps: 1. Multiply your annual income by the number of years until your reach retirement. When expressed this way, your income is often your most valuable asset. 2. Divide your life into four parts—Self, Family, Community and Career—then identify everything within each part that your income supports. You’ll start to realize that many people depend on your income, perhaps even more than you first thought. Only when you begin to understand the true value of your income can you determine if your most valuable asset is adequately protected in the event you become too sick or hurt to work. 70 IF YOU DON’T WORK, NOTHING DOES Understanding the Risk of Disability Who needs disability insurance? Just about anyone who has a job. The possibility of a disabling illness or injury may seem remote, but statistics paint a different picture. According to the Social Security Administration, the odds of becoming too sick or hurt to work is 1 in 4 workers during their working careers. The odds of suffering a long term disability are high for all workers because illness—not accidents—account for 90 percent of disabilities that keep people from work- ing. Your paycheck could stop arriving just as an illness or injury brings significant expenses for medical bills, mort- gage payments, credit card and other bills. In fact, disabil- ities have historically caused nearly half of all mortgage foreclosures and a significant number of personal bank- ruptcies. Save the date ... SOURCES OF DISABILITY INCOME PROTECTION: Workers’ Compensation Most long term disabilities are not covered by Workers’ Compensation. 95% of disabilities are outside of the workplace. Social Security About 65% of applications for Social Security disability benefits are denied, and the average monthly payment for current beneficiaries is $1,111, barely above the poverty line. Employer Sponsored Coverage Many employers provide their employees with disability coverage. Individual Disability Insurance The most flexible and reliable source of coverage is an individual disability insurance policy you purchase on your own. Will you be able to maintain your current standard of living if you become disabled? We can help you use our Disability Insurance Needs Worksheet as a starting point for your calculations. If you prefer to use an online calculator, visit www.lifehap- pens.org/Dicalc. This lets you assess the income needed to sustain your current standard of living should you become too sick or hurt to work. We can help you find the best plans to protect your most valuable asset - YOUR INCOME!!! Call J.B. Gross Insurance - We are here to serve your needs. JB Gross Insurance 1703 Santa Fe Drive Weatherford www.jbgross.com 817-613-1098 Tuesday, June 26th 2018 • 6:30 pm Dove Ridge Vinyard ~ Catered by Fish Creek ~ Benefiting Careity Foundation Sponsored by: Comfort Experts Worth Treatment- Barry J Mills MD, P \\Q[^KPK\H\X[\]Hܛ\ ^\[[X[]ܘH][ۜ\\[Hٚ[[\܈[\[\ܙ\[[[\\[Y