Thursday, August 6, 2020

What Is An Irrevocable Life Insurance Trust Notes?

Let's dig deeper... what if you are forced to take a leave of absence to focus on your health and your life depended on it? Would you continue to work anyways? Chances are you would take time off. No amount money is that important when your life is at stake. Or is it?

How are you going to pay for those bills, keep food on the table, clothes on the backs of your growing children and keep a roof over everyone's head?

This is a question that most will not address the topic, or even think about it. You cannot afford not to insure your ability to earn an income, and that is because your life does depends on it.

Insuring your ability to earn an income should be at the top of the list with other important insurance programs. It could be easily ignored because you are working now, but one day that will change. You are not immortal.

1 in 3 people will lose their ability to earn an income prior to the age of 65**. The chances are high enough that it will be you, one day. But since you do not feel any immediate pain from it, it is easier to put it off.

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Your homeowner's policy won't pay you anything if you are too sick or hurt to work. Some will say "what about life insurance". Maybe. If you planned for it correctly, it could. Otherwise life insurance should be called death insurance. Typically, it can only be used once and you are not even the one receiving it.

Reviewing and implementing an insurance policy to protect your income is so important these days. It is so important, it should be the most important insurance program you should have. After all, your life could depend on it.

*2009 Harvard Study

**2007 LeClair Corportion

Arthur "Butch" Zemar is a 2014 Broker of the Year Finalist, an insurance specialist, author and President at Elite Benefits of America. Butch Zemar is actively developing informative resources, such as articles and videos that deliver vital information on healthcare reform and employer options. Elite Benefits of America has consultative packages for employers, as well as insurance solutions, to keep employers compliant with healthcare reform and keep skyrocketing premiums under control. For more information
There are a number of advantages to being your own boss. The freedom to set your own schedule, control over client and business relationships along with a feeling of liberation are a few of the main reasons increased numbers of Canadians are headed down the self-employment path. Self-employment does come with its list of challenges, one being, health insurance and more specifically... disability insurance.

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