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isability income protection is an often-overlooked area of financial planning. Until you have reached financial independence the loss of income caused by disability can be devastating.

Most employer-provided benefit packages have some level of disability protection and Social Security provides a minimal safety net. If you are self-employed or work for a small company, you should investigate disability insurance. Because the probability of a disability during your working years is even higher than the probability of death, disability insurance premiums seem high compared to life insurance. You should carefully consider the risks and options and possibly include disability insurance in your financial plan.

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Did you know...?

According to the National Center for Health Statistics, the average life expectancy for an American born in 1920 was about 54 years. By 1950, it had increased to 68 years. The average child born today can expect to live to age 78!

 

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