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- Helping Those With Disability > Before Disability Occurs

Before Disability Occurs

Disability comes in many forms. It can result from physical or developmental incapacitation. While a disability can be present from birth, more often it arises over time or occurs catastrophically due to accident or illness. It can result simply from the process of aging. It can affect anyone at any age. Prolonged disability occurs much more frequently than anyone would ever think.

No matter how disability occurs, it most often presents itself as a sudden, unexpected incapacitation bringing with it changed lifestyles, emotional stress and most often financial hardship.

Generally, individuals don’t understand the risks. Most of us figure we’re somewhat invincible. Speak to those that have experienced the sudden occurrence of disability and they will advocate otherwise.

Statistically, the numbers are shocking. At age 30 there is a 42% average likelihood that you will have a disability lasting at least 90 days before age 65; and this disability on average will last 2.7 years. At age 40 the average only drops to 37% while the average duration grows to 3.3 years. Few individuals adequately protect themselves against this risk. Most will insure their cars, their homes and even their lives but when the odds say that there is greater than a 40% chance that someone age 30 could lose all of the working income potential for the rest of his working life few look at insuring this risk beyond what they might have from group insurance plans at their work.

While much of the “Disability” section of our Web Site deals with financial planning and strategies for those who are dealing with a long term disability, this section deals with risk prevention strategies (disability insurance, critical illness insurance) that can and should be put in place to provide for financial security before long term disability occurs.

We encourage you to read some of the case studies in our Library as they clearly demonstrate the need and then read on to understand how Transitions Wealth Strategies would go about protecting you from these risks.

Before Disability Occurs - Critical Illness Insurance

Becoming disabled can also occur due to illness. Life altering conditions may strike at any time with little or no warning. When people think of disability, often times they are only contemplating a physical inability but heart disease, cancer and other debilitating illnesses occur with great regularity. More Info..

Before Disability Occurs - Disability Insurance

Many people are self employed or work for small employers that are not of sufficient size to offer employee group benefit plans. Many self-employed individuals could actually be sole proprietors of their own entrepreneurial businesses. Invariably, loss of time due to disability for these individuals would be catastrophic in more ways than one. More Info..

Before Disability Occurs - Employee LTD Plans

Many employees at mid to larger size employers have a group benefits plan through employment. Employees who are fortunate enough to have group coverage are normally aware that they have Long Term Disability (LTD) coverage. More Info..

Contact Transitions Wealth

Contact Transitions Wealth

For more information please contact us   705.888.2765