Income Protection

You protect your house and your car. What about your income?

For most people, the possibility of an illness or injury severe enough to disrupt their income flow doesn't even occur to them. If they do think about it, people often consider the chances slim. Many go through life with the "it will never happen to me" mentality.

The truth is that illness or injury can happen to anyone. In fact, a person has a one in four chance of becoming severely ill or disabled. Perhaps you've considered this possibility and put some plans in place. If you have already taken steps to protect your income, when is the last time you reviewed your plan? Chances are you have experienced changes in your life since you last reviewed your finances. You may have gotten married or divorced, welcomed a child or grandchild, acquired or sold a business, received a new job or earned a promotion, or taken on new future financial obligations.

As your financial goals and needs change, your strategies to protect them may need to change. Remember that income protection affects other aspects of your planning process, including investment planning and insurance planning. Because your lifestyle and that of your family depend on your income, it is important to regularly review your specific goals, and actively plan for the possibility of severe illness or injury.

If your life situation and goals have changed since you last reviewed your income protection plan, or if you, like most people, haven't prepared an income protection plan at all, a comprehensive financial review may be in order. A review can help you understand key questions such as:

• How will you pay the bills if you become ill or injured?
• How will your savings and investment programs be impacted if you no longer have a steady paycheck?
• Is a one in four chance of becoming severely ill or disabled worth insuring?
• Which would have more of an economic impact on your family: death or disability?
• What's your definition of disability? It is the same as your insurance carrier's definition?

By conducting a review of your current financial plan, we can help make sure you have an income protection plan best suited for your needs. We can also help ensure your dreams are safeguarded, and, if necessary, recommend a course of action to help your financial strategy keep pace with today's realities.

Call us today for trusted advice on income protection. Call 858.752.1726

---