By Mark Bradley • BMA Financial Insurance Services
Unfortunately, they’re actually pretty good. Most people are not at all aware of their chances of becoming disabled during their working years.
• 1 in 3 will be disabled for at least 90 days before age 65..
• You are four times more likely to be disabled during your working years than to die.
• 1 in 4 20-year-olds will be disabled for at least 1 year before age 65.
• 1 in 7 will be disabled for 5 years before retirement.
• Over 50% of bankruptcies have to do with a medical condition.
You insure your car(s), your home, your health and your life, so why not insure your income? Group Long Term Disability (LTD) insurance provides income protection in the event you are unable to work due to an accident or illness. Coverage is typically 60%-66 2/3% of your insured earnings, and can be payable up to full retirement age.
LTD, however, is extremely inexpensive, with the average annual premium per person only in the $300-$400 per year range. That’s an incredible value for something that could easily pay you thousands of dollars each month, for years, and provide meaningful financial assistance to you and your family.
Interested in learning more? We’re here to help. BMA Financial Insurance Services is your trusted partner that can help bring clarity and understanding to whatever your situation may be. Let us help explain your options. Contact us today through email at mbradley@bmaamerica.org or phone at (501) 499-4205. Our focus is on educating our churches and pastors to help them make well-informed decisions about these very important topics.
