Many will go through life insuring what is so important to them. I’m sure you can name a few of them: Car / Home / Boat / Jewelry / Computers / Business / etc. At the time of claim you expect them to work and get a replacement or at least get it back to where it was. To have these things that you love, you have to generate income. This is important because income is required to have everything else, including supporting your family. Yet people take it for granted. How will you maintain your family’s current standard of living if you get too sick or hurt to work? If you don’t protect your income, you could lose everything.

Statistically, sixty-two percent of bankruptcies in the United States are due to medical bankruptcies. However, three-quarters of them had health insurance at the time of the onset of the disease *. So if everyone had health insurance, was health insurance the root of the problem?

Do not.

Medical bills are sure to pile up beyond what is affordable. Most people will blame health insurance for the cause. This is partly because we are too used to dealing with the problem verse symptom by getting to the root of the problem.

If you had monthly income so you could go for treatment, would that help manage the medical bills that pile up? Of course I’d do it. What is your plan to make sure you have an income once you are too sick or injured to work?

If you had a choice, would you quit work to focus on your health, or would you continue working while receiving treatment?

I think that choice is obvious.

Let’s dive deeper … what if you are forced to take a leave of absence to focus on your health and your life depends on it? Would you still work anyway? Most likely, he will take some time off. No amount of money is that important when your life is at stake. Or is that it?

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

This is a question that most will not broach or even think about. You cannot afford not to ensure your earning capacity, and that is because your life depends on it.

Insuring your earning capacity should be at the top of the list along with other major insurance programs. It could easily be ignored because it is working now, but one day that will change. You are not immortal.

1 in 3 people will lose the ability to earn an income before age 65 **. The chances are high enough that it will be you, one day. But since you don’t feel any immediate pain, it’s easier to put it off.

Your homeowners policy will pay you nothing if you are too sick or injured to work. Some will say “what about life insurance?” Maybe. If you planned it correctly, you could do it. Otherwise, life insurance should be called death insurance. It can usually only be used once, and you don’t even receive it.

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

* Harvard study 2009

** 2007 LeClair Corportion