Myerson Agency

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When engaging in the financial planning process, the impact of death and the need for Life Insurance to protect the family’s assets and lifestyle is always analyzed and determined. However, the same cannot be said for a disability. We have an inherent visceral need to protect our family in case we die, but somehow, the thought of a long-term disability, and the impact thereof, doesn’t seem to fill us with the same level of concern.

The reality cannot be more different from our psychology. The risk of a long-term disability is significantly higher than a premature death, with a staggering impact.

While actual statistics on a disability lasting more than 90 days can be hazy at best (and we don’t quote fuzzy math on our website), and differ widely between men, women, white-collar, and blue-collar, the reality is very clear. By all measures, one is more likely to suffer a long-term disability than a premature death prior to age 65. Yet many of us seem to think that either it “won’t happen to us,” or if it does, we wouldn’t really be prohibited from continuing to earn a living.

As for the financial impact of a disability, it is a “fate worse than death.” In the event of death, expenses to manage the household will usually decrease, given the elimination of fixed and variable costs of the deceased. However, with a disability, expenses almost always increase with the need to equip the home for managing the disabled’s needs, and other non-insured medical and transportation expenses.

At The Myerson Agency, we work with our clients to manage disability benefits for the following needs:

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