This is a question that most people avoid thinking about and understandably so. It is very rare to find someone that is independently wealthy. Those that are fortunate enough to have built up their savings account might be okay if they skipped one, two, or even three paychecks. For everyone else, losing one paycheck can lead to a financial disaster.
The question is: What would you do if you were not paid next month?
If thoughts of missing the mortgage payment or not being able to buy groceries run through your head, you are in desperate need of disability insurance. Disability Income Protection Insurance is a plan that is specifically designed to step in if you are hurt and unable to work. You never know what could cause this to happen. It might be a slip and fall accident while walking down the hallway that leads to an emergency hip surgery. It could be an unexpected cancer diagnosis that requires you to take months off of work to undergo treatment. There is no way to predict if you will ever become injured or sustain a life threatening illness and hopefully you never will. The problem is that just as there is no way to predict this, there is no way to stop it either. If this happens to you, it is critical that you have a financial plan in place to protect yourself.
At Florida Educators Insurance, we look at your entire financial picture when making recommendations for the type and amount of insurance coverage that you should have. The same analysis that we do to help you prepare for an unexpected disaster or to plan for retirement, can show us the gaps that you could have in your income, should you become temporarily disabled. Even if you do have enough saved up to pay for a couple months of bills, what happens if you have a major illness that takes six months for you to recover from? While long-term disability can kick in if you were seriously injured at work, these policies will not help if you are diagnosed with cancer or some other major illness. This is where Disability Income Protection Insurance can kick in so that you have the money you need to pay your bills.
What is Disability Income Protection Insurance?
If you live in the greater Tampa area, or anywhere in Florida, we encourage you to call us to learn more about income insurance coverage. Unlike an insurance plan that will replace your home or car, this plan will help to replace your income. Having it in place will ensure that you can focus on your health, on receiving the medical attention that you need, and having a full recovery. Very often people go back to work too quickly after an accident or try to keep working while fighting a major illness. This can be hard on the body, lead to further injuries, and prolong the total recovery time. The best way to prevent this is to focus on overall health and healing. If you do not have to worry about how to pay your bills – you can.
My name is Gary Cucchi, I am the owner of Florida Educator Insurance, LLC (an agency of Horace Mann Insurance). As a previous coach and educator, I was impressed with Horace Mann Companies’ devotion to helping educators for over 60 years. I know first-hand that educators have busy lives, and that is why my staff and I are dedicated to helping our clients meet their insurance needs and plan for their financial future.