Disability Insurance

Protecting Your Most Valuable Asset: Your Income

The Foundation of Your Financial House   

When we sit down to talk about financial security, most people immediately think about their savings accounts, their home equity, or their retirement funds. While those are undeniably important, I often ask my clients to consider what makes all of those things possible. The answer is almost always the same: your ability to work and earn an income. Your earning power is the engine that drives your entire financial life. It pays the mortgage, puts food on the table, funds your children’s education, and builds your retirement nest egg.

Disability insurance is essentially “paycheck protection,” yet it is frequently the most overlooked aspect of a sound financial plan. I am here to change that perspective. I believe that protecting your income is not just a smart financial move; it is an act of stewardship for your family’s future. In El Paso, where hard work is a way of life, losing that ability to provide due to an illness or injury can be devastating. My goal is to ensure that if you are ever unable to work, your standard of living remains intact.

Understanding the Real Risk   

There is a common misconception that disability insurance is only for people who work in dangerous jobs—construction workers, heavy machinery operators, or stunt performers. Many of my clients tell me, “Mary, I work at a desk,” or “I am very careful.” However, the reality is that the vast majority of long-term disabilities are not caused by dramatic workplace accidents. They are caused by common illnesses such as heart disease, cancer, arthritis, or even severe back pain. These are challenges that can affect anyone, regardless of their profession or how careful they are.

I want to help you prepare for the “what ifs” that we cannot predict. If you were suddenly unable to work for six months, a year, or even longer, how long would your savings last? For many families, the answer is only a few months. Disability coverage bridges that gap. It provides a monthly benefit that replaces a portion of your income, allowing you to focus on your recovery rather than worrying about how to keep the lights on.

Tailoring Coverage to Your Life   

No two careers are the same, and no two disability policies should be either. When we work together, I take the time to look at the specifics of your occupation and your financial needs. We will discuss the difference between short-term and long-term disability and determine the right mix for you. Short-term policies are great for immediate, temporary issues, while long-term policies are designed to protect you against catastrophic events that could keep you out of the workforce for years.

We will also look at the “elimination period,” which is essentially the waiting period before your benefits kick in. If you have a robust emergency fund, you might choose a longer waiting period to lower your premiums. If you live paycheck to paycheck, we might need a policy that pays out sooner. We will also discuss “own-occupation” versus “any-occupation” definitions of disability. This distinction is crucial; it determines whether you get paid if you can’t do   your   specific job, versus if you can’t do   any   job. As your advocate, I will guide you through these details in plain English so you know exactly what you are buying.

Special Considerations for Business Owners and Self-Employed   

If you are a business owner or self-employed professional here in El Paso, disability insurance takes on an even greater importance. You do not have the safety net of a corporate HR department or state-mandated benefits to fall back on. If you stop working, the revenue often stops, too. I work closely with entrepreneurs to structure policies that not only protect their personal income but can also help cover business overhead expenses. This ensures that the business you worked so hard to build doesn’t crumble just because you need time to heal.

For business owners, we can also look at disability buy-out insurance, which funds the purchase of a disabled partner’s share of the business. This protects the company and provides fair compensation to the disabled partner. These are the kinds of strategic conversations we will have to ensure every angle of your livelihood is secure.

Preserving Your Dignity and Independence   

Beyond the dollars and cents, disability insurance is about preserving your dignity. Relying on family members or charity for financial support can be emotionally difficult for someone who is used to being a provider. Having your own coverage means you maintain your financial independence. You can pay your own bills, afford the best medical care, and keep your household running smoothly without having to ask for help.

I want you to sleep soundly at night knowing that you have a safety net in place. We will review your policy regularly to make sure it keeps pace with your salary increases and lifestyle changes. As your income grows, your coverage should grow with it.

Let’s Secure Your Paycheck   

Don’t wait until something happens to think about this coverage. By then, it is often too late. I invite you to sit down with me to review your current protection. We will look at any group coverage you might have through work—which is often taxable and insufficient—and see if you need a private policy to fill the gaps. Together, we will build a fortress around your income so that you and your family are protected, no matter what life throws your way.