insurance statistics 2009
Paul Sullivan of the New York Times in April 2009 wrote an article in the section entitled â € œNever Wealth Affairs mind of your 401 (k). Howa € ™ s Your insurance?  € œà Mr. Sullivan begins his article with a very simple yet powerful phrase, â € œInsurance less sexy is an asset in most portfolios.â €  Why is it that simple, straight forward such a powerful phrase?  Because it is true and units of the sub-concious perception of insurance in almost all s ™ € American mind.
When you buy insurance you are buying an intangible product, you are buying a promise. Thus, when the average American thinks about the insurance of your first thought will be a tangible object, something to touch or hold that picture in your mind cana be replaced after an accident (ie, Home & Auto).   Just as most people understand that the Death is an inevitable and events both can wrap your brain around the idea of family is financially reimbursed after death (ie life).
However, the case of disability insurance, many Americans struggle to understand the importance of coverage of this product represents. Unlike death people have a hard time imagining the scenario that makes disabled. What these people do not understand is that one in seven U.S. Workers be disabled for five years or more before retirement (the Health Insurance Association of America, published in The New York Times).  Look around your office, counting yourself and six co-workers. One of you will be disabled for five years. If you are the who become disabled, your family can maintain that kind of long-term reduction in income?
So, if these statistics are true, why Why donâ € ™ t most people have a disability insurance policy? An easy, Price! a relative to the most popular product of life insurance, long-term insurance, disability insurance is expensive. is much easier to play, â € œIts not going to pass Mea € card than it is to add a household expenditure to budget. However, if you are the one in seven, that the monthly cost becomes the greatest asset! Â
There are ways to mitigate the expense. A policy of disability of a traditional person covers 60% of monthly income, from three months after the disability occurs until the age of 65th Each one of these factors can be adjusted so that the cost of politics more manageable. If I could survive in 40-50% of their monthly income instead of 60% before declining the benefit to be receive. If your employer offers short-term disability extend the waiting period to 6-12 months. Finally, most policies Disability lets you choose the time you would like to receive disability benefit. may be a good idea to look into policies that provide a benefit for 5, 10, 15 years or until age 62 instead of the standard age of 65.
For more information read this long list of statistics on disability to fly your mind ProtectYourIncome.com.
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Thank you,
Ryan H.
About the Author:
This article is brought to you by the Albany Insurance Professional blog located at www.ryanhanley.com where we drop crucial insurance knowledge on the consuming public.
Article Source: ArticlesBase.com – Disability Insurance: Not Sexy – Very Important
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