It is one of the most overlooked elements of financial planning. Yet, it is one of the most important areas. Some might disagree, arguing death is a certainty for all of us but disability is not. However, it is not just the case of one ceasing to be an income-generating asset to the family, the person sudden change from an asset to a liability. Cost for diagnosis, treatment, and ongoing care adds up quick.
No one thinks that disability will affect them. Yet everyone knows at least one person who has suffered from a heart attack, lived with cancer, or undergone a period of surgery. Car accidents happen on daily basics. Whether it is due to accident or sickness, risk of disability is always present. Financial planner plays an important role in bringing awareness of this need and assists people in planning for continued income.
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