Few people realize that their most valuable asset is their ability to earn an income. Like any asset it is important to obtain the necessary protection on that asset. With this mind set, any unforeseen events which may endanger one's ability to earn a paycheck need to be accounted for. Fortunately, such protection is available in the form of Disability Income Insurance (DI). The purpose of disability insurance is to replace all or a portion of the lost income incurred should you become disabled and unable to work. Income received from a DI policy can be used for a wide range of needs: mortgage payments, daily living expenses, educational expenses, medical bills, or insurance premiums, etc.
There are two phases to every retirement plan: the accumulation phase and the income phase. All the planning in the world during the accumulation phase can be for not if the correct income options are not implemented. Many retirement plans consist of investment vehicles that are designed for savings, growth, and deferral, however, none of these will assist you in accessing your money during your golden years without implementation of the proper income strategy.