Navigation Links
Protecting Your Biggest Asset- Your Income
Date:5/4/2009

ONTARIO, Canada, May 4 /PRNewswire/ -- Whether you just got drafted into the NFL, are an actor or an entrepreneur, protecting your income should be high on your list of priorities. Life offers many surprises and even a minor injury or illness can lead to temporary disability and derail your plans and your finances.

(Photo: http://www.newscom.com/cgi-bin/prnh/20070717/NYFNSC02)

Disability insurance is generally offered through the workplace, but it is subject to restrictions under Employee Retirement Income Security Act (ERISA). Those restrictions can leave you in the cold if you become disabled and are wrongfully denied your benefits, says Frank N. Darras, the nation's leading disability and long-term care insurance lawyer. See www.darrasnews.com.

If you are a large or small income producer, protecting your earning ability will give you peace of mind and should be well worth the investment. Two major factors to consider are 1) protecting your lifestyle and 2) protecting your equity.

Lifestyles need not be extravagant or expensive to be protected. Consider the value of your income in everyday life and things you hold dear, like a roof over your family's head, food on the table, clothes on the children and gas in the family car. Losing an income source can be expensive and turn your life upside-down, fast, says Darras.

"Consider that people 35 years or older have a 50% chance of becoming disabled for over 90 days, before turning 65. Throw in the average $722 a month you will receive if you are one of the fortunate few (35%) disabled applicants awarded Social Security Disability Insurance benefits and you see where I am going," says Darras. "Few folks can survive on $722 per month and an individual disability policy is a very good safety net."

Darras suggests:

  • Get individual disability coverage when you're young.
  • Buy an "own occupation" policy that protects you until age 65
  • Beware of the "limitation clauses," 12 months for a mental nervous claim or self reported claims like headaches, chronic fatigue syndrome or fibromyalgia.
  • Buy from a company with a stellar claims paying history
  • Group disability coverage from work does not protect you and it's taxable.

Compare features, advantages and benefits of different policies. Get competent advice and determine where your financial risks are the highest. Once you prioritize your risks, purchase an individual policy to protect yourself and your family.

Darras says, "Never buy from a company you don't recognize! Paying really cheap premiums to a company that low balls the market is a destination to Disasterville."

See www.darrasnews.com or call 800-458-4577.


'/>"/>
SOURCE Frank N. Darras
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. From SARS to Swine Flu: Protecting Your Dental / Medical Practice
2. Upside-down world: DNA protecting protein helps cancer drug to kill cells
3. Kaiser Permanente Recognized by U.S. Environmental Protection Agency for Commitment to Protecting Environment
4. April Rain is Protecting Skin with The Launch of Day Rainew
5. Saving Money While Protecting Your Health in Tough Economic Times
6. South Dakota Becomes 24th State to Meet American Lung Association Smokefree Air Challenge by Passing Legislation Protecting All Workers from Secondhand Smoke
7. Illinois Hospital Association Commends Governor for Protecting Health Care in State Budget Proposal
8. Coalition to Protect Senior Care Urges Obama Administration to Support Frontline Caregivers by Protecting Medicare Funding in FY 2010 Budget Blueprint
9. Protecting wine grapes from heat and drought
10. New Report Finds Missouri is Falling Behind in Protecting Kids From Tobacco
11. National Front Line Caregiver Group Urges Senate Leaders to Support Grassley Amendment Protecting Seniors Care, Assuring Stability of Nations Long Term Care Workforce
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/5/2016)... ... February 05, 2016 , ... ... from across the country gathered at the La Valencia Hotel in San Diego, ... PROSHRED Chicago was named the year’s most outstanding franchise, walking away with the ...
(Date:2/5/2016)... ... , ... Give To Cure today announced that it is working ... To Cure’s campaign that is crowdfunding clinical trials to help find cures faster for ... a smart device. In 2015 alone, Venmo processed $7.5 billion in transactions among users. ...
(Date:2/5/2016)... New York, New York (PRWEB) , ... February 05, 2016 , ... ... (APDA) announced the election of Patrick McDermott as Chairman of the National Board of ... welcome Pat as Chairman of the Board,” stated Leslie A. Chambers , APDA ...
(Date:2/5/2016)... ... February 05, 2016 , ... Dr. Ben Amini, ... it is now welcoming orthodontist, Dr. Amanda Cheng, to the practice. With the ... oral health care, including general dentistry, cosmetic treatments, periodontics, implant dentistry , ...
(Date:2/5/2016)... ... February 05, 2016 , ... Health and wellness is a topic that ... the event they are experiencing an illness. Migraines are a severe form of a ... with migraines would not wish the pain on their worst enemy, the feeling can ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)... -- Worldwide Radiology Oncology surgical robot markets are ... systems provide a way to improve traditional open ... systems pinpoint the delivery of radiation precisely, eliminating ... problem previously, limiting the quantity of radiation that ... far beyond what has been available, promising a ...
(Date:2/4/2016)... 4, 2016  SciClone Pharmaceuticals, Inc. (NASDAQ: ... entered into a settlement agreement with the United ... the SEC,s investigation into possible violations of the ... of the settlement agreement, SciClone has agreed to ... pre-judgment interest and a penalty.  This payment is ...
(Date:2/4/2016)... , Feb. 4, 2016  Montoya Love is recognized ... the field of Pharmaceuticals. Montoya is the Regulatory Systems ... Manufacturing and selling ... Becton Dickinson provides healthcare institutions, clinical laboratories and ... fifty countries across the globe. ...
Breaking Medicine Technology: