CJ Fox: So, one of the questions that I get from financial professionals is, who their target market needs to be? My question or my answer to that is, simply put, anyone who relies on a paycheck, really needs to work to protect that.
If you look at a pyramid, the bottom of that is going to be risk management. That’s your health insurance. That’s your disability and life insurance. Without those things, if something were to happen to you, everything else at the top of that pyramid falls apart.
Your 401K, you can’t invest in. You can’t invest in your kid’s college. Estate planning and retirement planning falls apart.
The possibility of becoming disabled seems remote, but it’s actually, statistics show otherwise. We have about a three in 10 chance of becoming disabled for 90 days or longer in our lifetime. In our working careers and keep in mind too, that 90% of disabilities actually occur from common illnesses. Not accidents, like most people think.
Normally, when we think about somebody being disabled, we think of a freak accident. In the case of Christopher Reeve.
Most people think of their most valuable asset as their car or their house or 401K, investments. Things of that nature. Most people don’t think about your most valuable asset being your ability to earn an income. Without an income, we know that everything else falls apart.
Not only do you have your normal day to day bills, but guess what else you have? Medical bills. A new research from Academic Researchers came out and said that, “About 66.5% of bankruptcies had some form of medical ties.” Either the premiums were too expensive or the cost of medical care was too expensive.
So, we’re seeing that a lot of people across America are actually having to file bankruptcy due to these sicknesses and illnesses.
With our support, we can help the financial professional manage that risk for their client.