Your Child and Autism

Disability Insurance - Are You Covered?

Dunwoody, Georgia (PRWEB) May 27, 2008 -- What do you consider to be your most valuable asset? Many people assume it's a material possession, such as their car, home or jewelry, but for most Americans, it is the ability to earn an income. Think about this: a 25-year-old worker who makes $50,000 a year stands to earn $3.8 million in future earnings. So an illness or injury that forces you out of work for an extended period of time can have dire financial consequences if you're unprepared. May is Disability Insurance Awareness Month, and to help people evaluate their need to insure their most valuable asset, Duffy G. Elliott, CPA, CFP® with Elliott and Associates in Atlanta reviews three simple guidelines for purchasing disability insurance.

"Just as you would insure your car or home from unexpected damages, it's important that you insure your ability to earn an income," says Elliott. "The simple fact is that if you work for a living, you need disability insurance so that you can continue to receive an income if a disabling injury or illness prevents you from working for an extended period of time. A disability can stop your paycheck, but it won't stop your bills."

According to a recent report by the nonprofit LIFE Foundation, adult males have a one in four chance, and women a one in three chance, of suffering an illness or injury that keeps them out of work for 90 days or more. If you have any doubts as to how you or your family would manage without your income for a period of time, says Elliott, you need to assess coverage options to ensure you are adequately protected if you become disabled and unable to earn an income.

To help people evaluate their disability insurance needs, Elliott reviews two scenarios when disability insurance is absolutely crucial.

You work for a living. This is the simplest rule of thumb. If you work, you need disability insurance. Unfortunately, the vast majority of America's 140 million workers lack adequate disability income protection, even though about one in five can expect to be disabled for one year or more before retirement. Without that paycheck, most Americans couldn't make financial ends meet for long. Disability is behind nearly half of all mortgage foreclosures and a significant number of personal bankruptcies. According to a survey by the nonprofit LIFE Foundation, 70 percent of working Americans say they could only afford to take off one month or less of unpaid vacation before everyday expenses would pile up and force them to return to work. You need to be insured to cover your monthly expenses in the event you become disabled and can't work.

Your job does not offer disability insurance. If your employer does not offer disability insurance or the coverage available to you offered is inadequate for your needs, you should consider purchasing an individual policy on your own outside of work. The best way to determine how much disability insurance you need to protect you and your loved ones is to meet with a qualified insurance professional, who can conduct a needs analysis to determine the amount and type of disability insurance that's right for you. Also, the LIFE Foundation offers a disability insurance calculator to help consumers get a sense of how much they need. The calculator can be found at www.lifehappens.org/disabilitycalculator.

For additional information on disability insurance and other helpful tips for purchasing coverage, visit www.lifehappens.org/disabilityinsurance.

About Disability Insurance Awareness Month

Disability Insurance Awareness Month (DIAM) was created to get American workers to think about the need to protect their greatest asset - their ability to earn an income. Held in May, DIAM is an industry-wide effort that is coordinated by the nonprofit Life and Health Insurance Foundation for Education (LIFE).

Duffy G. Elliott, CPA, CFP® is President of Elliott and Associates Wealth Advisors, Inc. in Dunwoody, Georgia.

He can be reached at 770-451-2446, or Duffy.elliott@investfinancial.com.

www.Elliottandassoc.net

###

MORE ARTICLES:

Easter Seals Northern Ohio and Joe Kelly Battle Autism - the New U.S. Epidemic
The story of how young Joe Kelly and the Kelly family are dealing with autism with the help of Easter Seals Northern Ohio.

Railroad Workers Are Also Entitled To Disability Benefits
Railroad work can be hard and dangerous and can result in injury or disability. But railroad workers can also become disabled for other reasons such as illness or disease not related to an on the job injury.

There's Always Something to Talk About! Bestselling Cards Increase Language in Autism Spectrum Kids
Brand-New Savings from Natural Learning Concepts Help Children Learn, Grow, and Gain Confidence

What Are The Treating Mercury Poisoning Autism Links?
Even with a significant amount of research and studies being conducted examining the connection between mercury and autism, many people still do not fully understand this connection, or whether a connection even exists at all. This is due to the highly conflicting nature of these studies and published information. This article will attempt to clarify the treating mercury poisoning autism link.

THRASS and I CAN: Working Together to Break Down the Barriers for Children with Communication Disability
It is essential that children of all abilities should learn to read and write, yet a large and growing number of children are beginning formal education without the speech and language skills they need to achieve and make friends. In its report The Cost to the Nation of Children's Poor Communication, I CAN - the children's communication charity - recounts evidence that in some parts of the UK around 50% of children start school lacking the skills that are vital for an effective start to learning. On top of this one in ten children (up to 10%) has a long-term persistent communication disability.

Mom Teams With Specialist to Spread Awareness of Innovative Treatment Options for Epilepsy and Autism
On June 4, Arlene Martell and Dr. Paul Swingle will take part in a free teleseminar discussion of the newest alternative treatments for autism, epilepsy, and other brain disorders, with a focus on neurotherapy and diet.

What Is The Difference Between Apraxia And Autism?
Apraxia and autism are two entirely different neurological disorders which can occur in a child independently of one another, or together in the same child While autism?s symptoms can impact and impair many different systems, behaviors, and thought patterns, apraxia occurs when the child struggles to plan and carry out voluntary physical movements

Disability Insurance Considerations
"I don't believe anybody thinks about not being able to meet expenses," said John Henry, a 38 year old office worker who was unable to work for two months due to a back surgery. "I was in great health before the operation."

Autism Speaks, CDC and The Advertising Council Launch Program to Educate Teachers About Importance of Early Intervention for Autism
Autism Speaks, in partnership with the Ad Council and the Centers for Disease Control and Prevention (CDC), launch a new educational tool kit, Talking to Parents About Autism, designed to promote early intervention and encourage educators to speak to a child's parents if they suspect a developmental delay.

How To Holiday With A Disability?
Everybody enjoys being out on the holidays. It is a merry making time and people want to enjoy it to the fullest. They want to have all the fun that has allayed due to their busy lifestyles. They want it to remain in their memory forever. They want nothing to come in the way of their enjoyment, be it their sorrows or any form of disability.