That’s likely because many people think a disabling illness or injury will never happen to them. But according to a Life Happens survey, a person has a three in 10 chance of suffering a disabling illness or injury that would keep them out of work for three months or more during their career. This is why Disability Insurance is more important than ever.

Your most important asset is not your home, your car, your jewelry or other possessions. It’s your ability to earn a living. Think about it: All of your plans for the future—from buying a home to putting your kids through college to building a retirement nest egg—are based on the assumption you will continue to earn a paycheck until you retire. But what would happen if those paychecks stopped? That’s where disability insurance comes in. It provides an income to you and your family if you are unable to work because of illness or injury.

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.Of today’s 20 year-olds, one in four will become disabled at some point in their career, according to the Social Security Administration. While it’s true that people in professions like farming, law enforcement and construction face greater risks, 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 out of work. (See chart on the next page.) Your paycheck could stop arriving just as an illness or injury brings significant expenses for medical bills, physical rehabilitation or the cost of modifying your home to accommodate medical equipment. Missed mortgage payments could put ownership of your home in jeopardy. Falling behind on credit card and other bills could mean burdensome late fees and escalating finance charges. In fact, disabilities have historically caused nearly half of all mortgage foreclosures and a significant number of personal bankruptcies.

If you have any questions regarding Disability Insurance and the value and piece of mind it provides, please contact our trusted agents at 844-879-7747 today.

The post Disability Insurance 101 appeared first on Quality Quote Insurance Solutions.

They are a match made in country music heaven—Nashville, where they met working in the industry and then bonded over their love of making music. Their love has grown over the past 23 years, and life insurance has been an important part of their life together. As Kelley
grew her new career in real estate and Doak focused on raising their daughter, Emma, they knew they needed the financial safety net that life insurance offered.

Tragedy struck, however, when Kelley—the family’s main breadwinner—found out she had a drug-resistant type of Parkinson’s disease. It has slowly robbed her of her ability to work, and now even to care for herself. Fortunately, their insurance professional Wallene Leek had made sure that Kelley not only increased her life insurance over time, but that it had living benefits as well.

Kelley’s term life insurance policies have a disability waiver of premium, which means she never has to pay another premium. And because her diagnosis is terminal, the family is able to access a percentage of the death benefit now. That has meant the world to the Sneads.

The family has been able to stay in their home, instead of selling it, and Emma has been able to complete school. What’s more, Kelley and Doak are able to spend what time they have left without the crushing burden of financial worry. “Kelley’s disease may have taken away her livelihood, but life insurance has saved our lives at this point,” says Doak.

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The post Kelley Snead: Life Insurance for … Life appeared first on Quality Quote Insurance Solutions.

 

There’s about a 70% chance you’ll need some type of long-term care after age 65, according to government stats. And given that the cost of long-term care can quickly deplete your life’s savings, it just makes sense to add it your financial plan.

When you prepare for any upcoming investment or purchase, you probably run into some unfamiliar language or terminology in your research, which can be frustrating and downright confusing.

Searching for a long-term care insurance policy is no different. A long-term care insurance policy describes coverage under the policy, exclusions and limitations—and can be laden with industry jargon. Here’s a breakdown of the fundamentals:

There are four primary components that determine your long-term care benefits and influence your monthly cost.
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Questions or other Inquiries?

Refer to our Contact Sheet to reach out to us. You can also call 1.844.TRY.QQIS

The post Here’s What You Need to Know About a Long-Term Care Insurance Policy appeared first on Quality Quote Insurance Solutions.