EXPERTS LANE
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FINANCIAL ADVICE
Income Protection
Wealthy have it and you should too!
By Nesterine Blair, WFG Associate
Did you know that you can use life
insurance to protect your income?
Life insurance can provide income
protection which will give peace of
mind to you and your loved ones. A
little known fact among the middle
class is that wealthy people not only
protect themselves, but also their
income.
The Pew Research Center reports that
60% of U.S. households are dual income
and typically covers the mortgage, car
payments, living expenses, childcare,
saving for college and saving for
retirement. At the end of the month,
families are often left with little or no
discretionary funds. If one or both
paychecks are suddenly lost due to
illness or death, would there be enough
money for your family to make ends
meet? Let’s talk a little about illness. We
often think about health insurance to
protect us for illness, but what happens
if the illness is long term like a critical
or chronic illness and you have to take
the time off from work to recover?
According to the Council for Disability
Awareness, an accident is not usually
the cause of a disability later in life.
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Instead, the inability to earn a paycheck
can be caused by heart disease, cancer,
and other serious illness.
Would you have the ability to write a
check to cover your bills or would you
want an insurance company to write you
a check? The old notion was that death
has to occur for someone to benefit
from life insurance. Not anymore;
there are plans that give you benefits
while you are alive so that your bills are
covered while you are recovering.
If the breadwinner in the family is
suddenly gone due to death, can the
family continue to maintain their current
lifestyle? Nothing can replace you when
you die but with the right amount and
type of insurance, your family can have
the peace of mind that comes from
knowing that the people who depend
on you will have the financial security
to continue to live without the worry
of not having enough monies to keep
the lights on, remain in their home and
continue to plan for the future.
If income protection is a concern to
you and your family, we need to have a
conversation…
Nesterine Blair, WFG Associate
WorldFinancialGroup.com
[email protected]
STOCK
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our income is one of your
greatest financial assets. Most
Americans work approximately
40-50 years over the span
of their lifetime. If suddenly you had
no income, would you or your family
be stressed to find a way to replace it
or would you rather have something
in place that allows enough financial
security for you or your family to live
comfortably? What are you doing to
protect your income?