Better to Be Dead or Disabled?

Which would you rather be? Which would make your family better off, at least financially better off? Do I have your attention?

Do you have disability insurance? If not, your family might be better off financially if you were to die rather than become severely or even partially disabled. If you become disabled to the point of not being able to work and provide for your family, life insurance is not of much use.

Disability insurance, on the other hand, would be. You would be surprised how many people have good health insurance and loads of life insurance, but are not covered by a disability insurance policy. If you are one of them, talk to your insurance advisor about what the company has to offer for disability insurance.

While you are at it, you might want to check about providing disability insurance for your employees or at least your key staff member. Consider these statistics:

  • someone 35 years old has a 50 percent chance of being unable to work for a period of more than three months due to a disability before age 65, and
  • disabilities affect one-fifth of Americans (over 49 million people).

With all of the focus on health insurance, it’s easy to forget about disability insurance. The risk of disability is clear and so is the potential need for disability insurance. Given the times we live in, insurance costs can be a real financial burden. However, disability insurance can be relatively affordable, and whether you pay for it, have employees contribute or they buy it themselves, it may prevent financial disaster.

Carl Gerhardt is the chairman of Alliance Franchise Brands LLC, the parent company of Allegra Network LLC and Sign & Graphics Operations LCC, and a world leader in marketing, visual and graphics communications, linking more than 600 locations in the United States, Canada and United Kingdom. The company’s Marketing & Print Division, headquartered in Plymouth, MI, is comprised of Allegra, American Speedy Printing, Insty-Prints, Speedy Printing and Zippy Print brands of marketing, printing, mailing and Web services providers. Its Sign & Graphics Division, headquartered in Columbia, MD, is comprised of Image360, Signs By Tomorrow and Signs Now brands of sign and graphics communications providers.

Carl and his wife, Judy, owned and operated their own successful Allegra franchise for nearly 20 years before selling the $2.3 million operation in 2003. He is a PrintImage International/NAQP Honorary Lifetime Member and was inducted into NAPL’s prestigious Soderstrom Society in 2010 in recognition of his contribution to the industry.

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