What would you say is your greatest asset? The answer is undeniable: It’s YOU! Let me illustrate. We all have an Earnable Income Quotient, or EIQ. For a real eye-opener, we suggest you check your EIQ here. What’s yours? Pretty amazing, right?
Most of us already insure our homes & belongings. Most of us insure our car, and maybe own life insurance, as well. Your EIQ is likely higher than your mortgage and cars combined. While you are in your working years the loss of your income when you suddenly become sick or hurt is far more likely than a house fire or a car accident, or even dying! Yet, most of us have inadequate coverage for our most valuable asset – our ability to earn a paycheck!
Think about it. How would your lifestyle change without your paycheck? Could you continue to buy what you want and pay for the things you need to keep your household running? What would you have to do?
Good news! You can still make sure you will receive a paycheck, even when you are absent from work for various reasons. However, you must prepare now. First thing you can do is use this simple tool to determine how prepared you really are, and be aware of income resources you already have available to you (like work benefits and social security).
Next, contact an insurance professional for guidance on ways to protect as much of your income as possible. Our office, L&A Services, can provide assistance in income protection, longevity insurance, life, health and even other ancillary insurance benefits like dental and vision for individuals and small businesses.