Granger Financial can further help you protect your future by setting up a disability plan to cover things like your car payments, mortgage, rent and other expenses in the event you become disabled. A life-changing disability would be financially devastating for most Americans; leaving you and your family at a greater risk!
In fact, 1 out of 4 of today’s 20 yr. old’s will become disabled before they retire leaving this population more likely to become disabled than to die before age 67! Furthermore, insurance statistics show that women have increasingly become more likely to experience higher rates of disability than men and unfortunately, one year without income could deplete your family’s savings.
Understanding that most long-term absences from work are due to illnesses not accidents, helps you realize the short or long term risk and the need to have disability coverage even if you’re healthy and young. Securing a disability plan will allow you to replace a portion of your income when you are unable to work and reduce the burden of your disability on those individuals dependent upon your income.