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The Financial Foundation |
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Other Articles by Matthews Chalmers
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The Value of Disability Income InsuranceBy Matthew E. Chalmers, Northwestern Mutual Financial Network Stop to think what might happen if you or your spouse became sick or injured and could no longer work for an extended period of time. Besides the emotional toll, how might your family cope with paying regular monthly bills – plus the extra medical bills? Â
The possibility of becoming disabled is real.  Consider these statistics: A disabling injury occurs every 1.6 seconds in the U.S.[1]. 3.4 million Americans suffered a work disability in 2003[2]. Work injuries cost American $156.2 billion in 2003, or approximately $1,120 per worker[3]. Some may think they're adequately covered by their employer. But group policies often provide less comprehensive coverage than an individual policy, and that coverage ends if they resign or are laid off.  In addition, many group policies exclude certain disabilities, and benefit periods may be limited. While the probability of becoming disabled is eye-opening, consider the consequences. Without insurance, a disability may force the use of retirement savings which may jeopardize an otherwise strong financial future. Protecting your family against the financial toll of a disability with adequate insurance is a wise investment. For more information on this and other similar subjects, I invite you to visit the article library found on my website at http://www.nmfn.com/matthewchalmers/learnctr--articles--article_library, or feel free to contact me at (979) 846-0668 or matthew.chalmers@nmfn.com with any additional questions. # # # Matthew E. Chalmers is a Financial Representative with Northwestern Mutual Financial Network, the marketing name for the sales and distribution arm of The Northwestern Mutual Life Insurance Company (NM), Milwaukee, Wisconsin, its affiliates and subsidiaries. Matthew E. Chalmers is an insurance agent of NM based in College Station, Texas. To contact Matthew E. Chalmers, please call (979) 846-0668, e-mail him at matthew.chalmers@nmfn.com or visit his Web site at www.nmfn.com/matthewchalmers [1] National Safety Council, "Report on Injuries in America," 2004 [2] National Safety Council, "Report on Injuries in America," 2004 [3] National Safety Council, "Report on Injuries in America," 2004
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